M&S Names Former Tesco Executive As Interim Finance Chief
Published on Jan 3 2020 3:12 PM
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%.