Marks and Spencer yesterday announced a cull of its board, reducing the number of executive directors from six to three, as it reported worsening trade and sagging profits.

One casualty was Ms Alison Reed, finance director, who will leave in February having been with the UK high-street retailer for more than 20 years.

The slimmed-down board will be led by Mr Stuart Rose, chief executive, supported by his lieutenant Mr Charles Wilson, executive director of property, information-technology and supply chain, and a new finance director.

All buying and merchandising directors will report to Mr Rose, who will take responsibility for retailing, merchandising and buying.

The news came as M&S said that trading had become "more difficult" since it last updated the market on October 12th.

"With Christmas we still have two key profit-driving months ahead," M&S said. "It is therefore too early for us to predict the outcome for the second half."

Turnover for the 26 weeks to October 2nd was flat at £3.82 billion (€5.5 billion), while operating profit fell 31 per cent to £242.2 million. Pre-tax profits were down 37 per cent at £211.7 million. Earnings per share were 6.1p, against 10.2p last time. An interim dividend of 4.6p has been declared.

Internationally, including in Ireland, M&S had performed well, it said, with operating profit increasing 58.6 per cent to £27.6 million.