Lord Derek Rayner
Encyclopedia
Derek George Rayner, Baron Rayner (30 March 1926 - 26 June 1998) was a chairman and chief executive of Marks & Spencer
plc (now generally known as M&S), one of the major British retailers who revived and rapidly expanded the company in the 1980s. He began working for the company in 1953 as a management trainee and became the first chief executive outside the founding families of the company.
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, "St. Michael", was outdated and the company sales of clothing and household goods went into decline. 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.
, 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
.
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.
ed for his government work and in 1983 he was given a life peerage
as Baron Rayner, of Crowborough
in the County of East Sussex
. He was a bachelor
with no known dependents.
Marks & Spencer
Marks and Spencer plc is a British retailer headquartered in the City of Westminster, London, with over 700 stores in the United Kingdom and over 300 stores spread across more than 40 countries. It specialises in the selling of clothing and luxury food products...
plc (now generally known as M&S), one of the major British retailers who revived and rapidly expanded the company in the 1980s. He began working for the company in 1953 as a management trainee and became the first chief executive outside the founding families of the company.
Marks & Spencer
Rayner began working for M&S as a management trainee 1953 at the company's store in OxfordOxford
The city of Oxford is the county town of Oxfordshire, England. The city, made prominent by its medieval university, has a population of just under 165,000, with 153,900 living within the district boundary. It lies about 50 miles north-west of London. The rivers Cherwell and Thames run through...
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
Trademark
A trademark, trade mark, or trade-mark is a distinctive sign or indicator used by an individual, business organization, or other legal entity to identify that the products or services to consumers with which the trademark appears originate from a unique source, and to distinguish its products or...
, "St. Michael", was outdated and the company sales of clothing and household goods went into decline. 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
Brooks Brothers
Brooks Brothers is the oldest men's clothier chain in the United States. Founded in 1818 as a family business, the privately owned company is now owned by Retail Brand Alliance, also features clothing for women, and is headquartered on Madison Avenue in Manhattan, New York City.-History:On April 7,...
clothing company of Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
for $750m, introduced a store charge card
Charge card
A charge card is a card that provides an alternative payment to cash when making purchases in which the issuer and the cardholder enter into an agreement that the debt incurred on the charge account will be paid in full and by due date or be subject to severe late fees and restrictions on card...
and opened more British stores.
Government
His tight financial controls and strong management practices at M&S led to him working for the British Government headed by Edward HeathEdward Heath
Sir Edward Richard George "Ted" Heath, KG, MBE, PC was a British Conservative politician who served as Prime Minister of the United Kingdom and as Leader of the Conservative Party ....
, 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
MoD Procurement Executive
The MoD Procurement Executive was the acquisition organisation of the Ministry of Defence.The Procurement Executive was established on 2 August 1971 as a single procurement agency for all three services with Derek Rayner as the first Chief of Defence Procurement...
.
He also advised Margaret Thatcher
Margaret Thatcher
Margaret Hilda Thatcher, Baroness Thatcher, was Prime Minister of the United Kingdom from 1979 to 1990...
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.
Personal life
In 1973 he was knightKnight
A knight was a member of a class of lower nobility in the High Middle Ages.By the Late Middle Ages, the rank had become associated with the ideals of chivalry, a code of conduct for the perfect courtly Christian warrior....
ed for his government work and in 1983 he was given a life peerage
Peerage
The Peerage is a legal system of largely hereditary titles in the United Kingdom, which constitute the ranks of British nobility and is part of the British honours system...
as Baron Rayner, of Crowborough
Crowborough
The highest point in the town is 242 metres above sea level. This summit is the highest point of the High Weald and second highest point in East Sussex . Its relative height is 159 m, meaning Crowborough qualifies as one of England's Marilyns...
in the County of East Sussex
East Sussex
East Sussex is a county in South East England. It is bordered by the counties of Kent, Surrey and West Sussex, and to the south by the English Channel.-History:...
. He was a bachelor
Bachelor
A bachelor is a man above the age of majority who has never been married . Unlike his female counterpart, the spinster, a bachelor may have had children...
with no known dependents.