18th Nov 2022 11:00
(Alliance News) - Marks & Spencer Group PLC on Thursday said it appointed Jeremy Townsend, former chief financial officer at Rentokil Initial PLC, as the group's interim CFO.
Townsend will take over from Eoin Tonge on Tuesday next week, and Tonge will step down from the board on December 9.
Tonge is set to become finance director at Associated British Foods PLC in April as John Bason leaves the London-based retailer and food ingredients group. M&S had announced back in July that Tonge would step down to join Primark-owner AB Foods.
Townsend previously held senior financial and non-executive roles across public companies. Most recently, he was group CFO at Sussex, England-based pest-control firm Rentokil, leaving in August 2020 after 10 years in post.
He will report to Chief Executive Officer Stuart Machin at M&S.
"Jeremy will be an excellent addition, bringing with him a wealth of financial leadership experience, as we accelerate our plans to reshape M&S for growth," Machin said.
M&S shares were up 1.9% to 122.96 pence on Friday morning in London.
By Jaskeet Briah; [email protected]
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