Derek Rayner, Baron Rayner

Rayner began working for M&S as a management trainee 1953 at the company's store in Oxford[2] when the company's then chairman, Lord Marcus Sieff, asked his advice about a problem. He rose rapidly in the company's management and became a director in 1967.

By the 1980s the company's trademark, "St. Michael", was outdated and the company sales of clothing and household goods went into decline.[1] Rayner restored the company by holding down costs and encouraging enterprise by employees. He also introduced strict financial controls, refurbishment of the larger stores and additional expansion. In 1988 under his control the company bought the Brooks Brothers clothing company of Canada for $750m, introduced a store charge card and opened more British stores.

His tight financial controls and strong management practices at M&S led to him working for the British Government headed by Edward Heath, serving in a variety of posts. From 1970-73 he arranged for the three British military services to use a single procurement office, the MoD Procurement Executive.[1]

He also advised Margaret Thatcher on improving Government efficiency, including reducing the number of meetings officials held.

He returned to M&S in 1982. In 1984, he became the first person from outside the founding families to become chief executive.