Marks & Spencer Appoints Alison Dolan As New CFO

By Reuters
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Marks & Spencer Appoints Alison Dolan As New CFO

Marks & Spencer has appointed Alison Dolan as its chief financial officer, days after the British retailer smashed profit forecasts and announced its first yearly dividend since 2019.

Dolan, who joins from real-estate portal Rightmove, will take over from interim CFO Jeremy Townsend, who will remain in the role until May 2025.

The starting date for Dolan is to be decided in due course.

M&S had named Townsend as its interim CFO in November 2022, when it was grappling with pressures of turning around its business.

However, the British retailer last week said it was in the strongest financial health since 1997, and predicted more to come.


'A Fantastic Addition'

M&S chief executive Stuart Machin said Dolan would "be a fantastic addition to the leadership team and with so much experience in fast paced, digitally led businesses, will help us in this next phase of transforming M&S".

Dolan previously held roles at News UK and Sky Plc prior to her current role as CFO of Rightmove.

In a separate statement, Rightmove said that Dolan has a twelve-month notice period and a date for her departure is yet to be agreed as the company searches for a new CFO.

Marks & Spencer reported a 58% rise in annual profit, ahead of market expectations, as its strategy to re-shape the business delivered strong sales growth in both its food and clothing divisions.

It made profit before tax and adjusting items of £716.4 million (€838.19 million) in the year to March 30 - ahead of analysts' forecasts which ranged £665 million (€777.05 million) to £705 million (€824.85 million) and the £453.3 million (€530.36 million) made in 2022/23.

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