LONDON (Reuters) – British retailer Marks & Spencer (OTC:) said on Thursday its chief executive Steve Rowe will stand down after six years in the job in May and be succeeded by two of his senior lieutenants.

Rowe, who joined M&S at the age of 15 before rising through the ranks, will step down after M&S reports annual results on May 25.

According to the group, current chief operating officers of joint operations, Stuart Machin, and Katie Bickerstaffe will assume control.

Machin will assume the role of CEO, and Machin will manage the daily operations and executive committee.

He will continue to have oversight of his current portfolio of responsibilities, which includes the leadership of M&S’s food business, as well as operations, property, store development and technology.

Additionally, he will be responsible for corporate communications and HR.

Bickerstaffe, who will be Co-CEO of the Group, will have a special focus on driving its strategy for selling across multiple platforms.

She will retain her existing portfolio including responsibility for clothing & home, MS2, international and financial services.

Both Machin and Bickerstaffe will join M&S’s PLC board on May 25.

The retailer added that chief financial officer Eoin Tonge will become chief strategy & finance officer and will play an enhanced role in leading the future development of the business.

Rowe will cease full-time employment after M&S’s annual shareholders’ meeting on July 5 but remain an adviser for up to a year.