Retail

Marks & Spencer Announces New Chief Financial Officer

By Sarah O'Sullivan
Marks & Spencer Announces New Chief Financial Officer

Marks & Spencer Group plc has announced the appointment of Alison Dolan to its board, as its new chief financial officer.

Dolan will take over from the interim CFO, Jeremy Townsend, who will remain in the position, as planned, until May 2025.

The company will announce the exact date of Dolan’s takeover in due course.

She currently holds the role of CFO at leading digital property portal Rightmove plc.

Dolan carries a wealth of experience both from this role and from previous finance, strategy and transformation roles, including News UK and Sky.

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‘Transforming M&S’

Speaking about the appointment, the chief executive of the retailer, Stuart Machin, said, “I am delighted to welcome Alison to M&S as our chief financial officer.

“We are fortunate to attract somebody of Alison’s calibre who will 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.

“I want to thank Jeremy [Townsend] for all his hard work and support.

“He will leave M&S in the strongest financial health the business has been in for decades, but Jeremy’s not going anywhere quite yet and will, as was always the plan, remain with us until May 2025.”

Commenting on the announcement, Dolan said, “I’m delighted to be joining M&S, Stuart, and the leadership team at such an exciting time for the business.

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“As a customer shopping at M&S, I’ve always loved the brand and am thrilled to be part of reshaping the business for growth.

“The scale and pace of change are significant, and there are so many great opportunities ahead.”

Earlier this month, Marks & Spencer reported a 58% increase in annual profits.

This was largely thanks to an investment programme that saw the company improve the quality and value of its clothing and food, upgrading its technology and modernising its supply chain.

Read More: Marks & Spencer Reports 58% Rise In Profits In Annual Results

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