Marks and Spencer names chief financial officer

Marks and Spencer has confirmed the appointment of Eoin Tonge as its new chief financial officer.

Tonge, who held the same role at Irish convenience food company Greencore Group, will join the retailer in June, replacing interim chief financial officer David Surdeau, who will remain the business during the transition period.

Marks and Spencer chief executive, Steve Rowe said in a statement: “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 has been chief financial officer of Greencore since 2016, where he has overseen key strategic changes including the divestment of Greencore’s US operations, strengthening the company’s balance sheet, returning capital to shareholders and simplifying the business to focus on its core market-leading propositions in the UK.

Prior to that, he was managing director of its grocery business for two years and was previously chief strategy officer from 2009 to 2014.

From 1994 to 2006 he worked at Goldman Sachs in a variety of roles across finance, treasury and capital markets in London, Hong Kong and New York.

Commenting on his new role, Tonge added: “Marks and Spencer is a brand that I have admired as a customer as well as a supplier for some time. 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.”

Tonge will receive an annual salary of 600,000 pounds.