Cheryl Potter

Source: M&S

Cheryl Potter

M&S has appointed Cheryl Potter as non-executive director, giving the company a women majority board for the first time.

Potter has previously held roles as head of the global consumer team at private equity firm Permira and non-executive director of Dr Martens and Homebase.

She is also chair of Level 20, a not-for-profit organisation established to inspire women to join and succeed in the private equity industry, and is a founding patron of Prince’s Trust organisation Women Supporting Women.

M&S’s board currently consists of six men and six women, with Potter due to join in March.

According to a new report from FTSE Women Leaders this week, there were 21 FTSE 250 companies with a majority of women on their board as of February 2023..

“I am delighted that a superstar of the private equity world is joining us at M&S,” said M&S chairman Archie Norman.

“She brings enormous energy, passion and a strong shareholder value focus to the board, as well as a great track record as a role model and advocate of women in leadership.”

Women made up 59.7% of employees in M&S’s top-pay quartile in 2021/22, according to the retailer’s latest gender pay gap. It’s a higher representation of women in the top-pay quartile than reported by any other major grocer that year.