Marks & Spencer has hired Eoin Tonge as its new Chief Financial Officer. The appointment follows the departure of its previous CFO Humphrey Singer in September last year after just 18 months in the role.
Tonge is currently the CFO of Greencore, a position he has held since 2016. During this time, he oversaw the sell-off of the Irish food company’s US unit and simplification moves. He has also been Chief Strategy Officer and Managing Director of Greencore’s grocery division. Tonge joined the manufacturer from Goldman Sachs where he worked in a variety of roles across finance, treasury and capital markets.
M&S’s CEO Steve Rowe commented: “Eoin’s appointment concludes a rigorous search for a world-class finance director. He brings in-depth knowledge of food, as well as strategy and operations, and is another addition to the very strong management team we are building to transform M&S.”
Tonge, who will take up his new role in June, added: “I’m excited to be joining the Board and management team to drive forward the transformation of the business, realise its full potential and make it special again.”
David Surdeau, a former Tesco executive who was brought to act as Singer’s interim replacement, will remain with the business to support Tonge during a transition period.
Recent figures suggest that M&S’s turnaround plan is starting to work, particularly in its food unit. The retailer has made a string of appointments in recent months to support its efforts. This included the appointment of Katie Bickerstaffe last week to take on the role of Chief Strategy and Transformation Director. Some observers suggested that Bickerstaffe is now a prime candidate to succeed Rowe and become M&S’s first female boss.
