The Yorkshire-born retailer was recognised at the awards ceremony for his "outstanding achievements and demonstration of exceptional business acumen and vision over the past 12 months".
The award, which was voted for by members of the wider business community and an expert panel of judges, rewards Mr Marks’ innovation and excellence in business leadership.
Mr Marks has spent his entire working life within the Co-operative Movement, having joined Yorkshire Co-operatives in 1967 as a Management Trainee. Over his career, Mr Marks has managed numerous Co-op businesses, including food, travel, funeral and department store operations.
Since 2007, he has been Chief Executive of the Group, during which time he has overseen a renaissance of the Co-operative brand, combining improved financial performance and increased commitment to the society’s ethical stand and culminating earlier this year in the acquisition of the Somerfield food store business.
Commenting on the award, Mr Marks said: "This award recognises a tremendous year of achievement for The Co-operative Group, which has included the acquisition of Somerfield, the merger with Britannia and the national launch of our revitalised brand.
"At a time when consumers are looking for both value and values in business, The Co-operative’s brand has become relevant and distinctive in a way it has not been for decades. Our growth and renaissance could not have been achieved without the enormous commitment and loyalty of our 120,000 colleagues across our family of businesses and this award is recognition of the hard work and dedication all of us have given."
The Orange-sponsored National Business Awards took place at the Grosvenor House Hotel, Park Lane. Hosted by Kirsty Wark, journalist and TV presenter, the awards were also attended by Alistair Darling, Chancellor of the Exchequer.
A full list of the year’s categories and winners can be found at: www.nationalbusinessawards.co.uk.