(Bloomberg) -- Marc Bolland, the former chief executive officer of Marks & Spencer Group Plc, will join Blackstone Group LP to lead its private equity firm's European portfolio.
Bolland, 57, will join the investment firm on Sept. 19, the company said in a statement Tuesday. In addition to leading M&S for six years, Bolland was previously CEO of Wm Morrison Supermarkets Plc and chief operating officer of Heineken NV.
The executive left M&S in April, succeeded by general-merchandise head Steve Rowe, after he failed to revive the British grocery store chain's clothing business. He was paid 2.04 million pounds ($2.68 million) in his last year on the job, according to the company's annual report.
New York-based Blackstone is close to raising its biggest buyout pool so far, garnering about $5 billion for a core private equity fund, a person with knowledge of the matter said last month. The fund will focus on companies that are larger and more established and will invest in them for twice the typical three- to five-year holding period, the person said.
(A previous version of this story was corrected to fix Bolland's title in the headline.)
To contact the reporter on this story: Amy Thomson in London at athomson6@bloomberg.net. To contact the editors responsible for this story: Aaron Kirchfeld at akirchfeld@bloomberg.net, Elizabeth Wollman
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