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M&S Names Former Tesco Executive As Interim Finance Chief

Published on Jan 3 2020 12:20 PM in Retail tagged: Trending Posts / Tesco / Marks&Spencer / Appointment / Interim CFO

M&S Names Former Tesco Executive As Interim Finance Chief

British retailer Marks & Spencer on Friday named former Tesco executive David Surdeau as its interim chief financial officer, temporarily filling a void left by the departure of Humphrey Singer.

Surdeau, who spent 15 years at Tesco, Britain's biggest retailer, in various finance roles, will start on 7 January and report into group chief executive Steve Rowe.

Singer left M&S on 31 December 2019. His departure was announced in September after little more than a year in the role.

A spokeswoman for M&S said Surdeau was not a candidate for the permanent CFO position.

Christmas Quarter Update

M&S is due to update on its Christmas quarter on 9 January.

In November it reported a 17% drop in first-half profit, dragged down by falling clothing sales, but said it was confident it could fix its problems and return to growth.

M&S shares were down 1.5% at 11:29 GMT, extending its losses over the last year to 11.4%.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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