77908161.jpgMarks & Spencer boss Sir Stuart Rose has announced he'll step down in July 2011. His announcement comes as M&S shakes up its management structure which was prompted by the resignation of its chairman Lord Burns effective from June this year.

Rose will give up his role as chief executive to replace Burns as executive chairman until 2011, when he will retire.

Commenting on the move, Rose told Drapers: "M&S is a business with a strong heritage and great potential. This is an important time in its development. In taking on the role of executive chairman, my task will be to guide the business through the next stage of growth."

Could this be the final wind-up of Rose's successful career? Last year he also stepped down as chairman of the British Fashion Council and was replaced by Jaeger boss Harold Tillman.

[Image: Getty]