Britain’s M&S finance chief to resign, take up new role at Primark-owner ABF

A man leaves a Marks & Spencer store in London, Britain, in this January 7, 2016 file photo. REUTERS/Toby Melville

July 21 (Reuters) – Marks and Spencer Plc (MKS.L) said on Thursday its finance and strategy chief Eoin Tonge will be leaving the company to take up a new role at Primark-owner Associated British Foods Plc (ABF.L).

The move comes after a series of top management changes. Last month, M&S named Alex Freudmann, former managing director of Australian beer, wine, and spirits retailer Dan Murphy’s as its new food boss, succeeding Stuart Machin, who was promoted to group chief executive in May.

Tonge is leaving more than two years after joining the British retailer, and Marks and Spencer said it was commencing a process to appoint a successor.

The 138-year-old clothing and food company had said it will end its franchise agreement in Russia in the coming months and joined rivals in warning about the outlook for the current year amid a worsening cost-of-living crunch. read more

Reporting by Eva Mathews in Bengaluru; Editing by Subhranshu Sahu and Uttaresh.V

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