Bolland will take up his position in the New Year at a time and on terms to be confirmed.
M&S chairman Sir Stuart Rose said of the appointment: ‘He brings a wealth of consumer marketing experience and has made a great success of his time at Morrisons.'
Marc Bolland said, ‘M&S is one of the world's great brands and I am very pleased to be given the opportunity to lead the company forward at this exciting stage.'
Once Bolland assumes his post, Rose will continue as part-time chairman. As previously announced, Sir Stuart will leave M&S by July 2011.
Marc joined Morrisons in September 2006 as Chief Executive. Prior to that he was chief operating officer Heineken NV based in the Netherlands.