Marks & Spencer Group PLC Directorate Change (5508C)
February 11 2020 - 2:00AM
UK Regulatory
TIDMMKS
RNS Number : 5508C
Marks & Spencer Group PLC
11 February 2020
MARKS AND SPENCER GROUP PLC ANNOUNCES
CHIEF FINANCIAL OFFICER
Eoin Tonge will be joining the Board of Marks and Spencer Group
PLC as Chief Financial Officer.
Steve Rowe commented, "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."
Eoin Tonge commented, "Marks & 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."
David Surdeau, currently interim CFO, will remain with the
business to support Eoin as he transitions into his new role. Eoin
will join in June.
This announcement has been made in accordance with the
requirements of 9.6.11 of the UK Listing Rules.
- Ends -
For more information, please call:
M&S External Communications 0208 718 1919
Notes to editors:
-- Eoin Tonge is currently the CFO of Greencore Group PLC, a
position he has held since 2016. As CFO 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 this he was the MD of the Grocery Business for two
years and was previously the Chief Strategy Officer from 2009-2014.
In this role he helped create the 'food to go' focused strategy
which drove revenue and EBITDA growth. His first role at Greencore
was as Group Capital Markets Director where he oversaw the treasury
and investor relations functions.
-- From 1994-2006 he worked at Goldman Sachs in a variety of
roles across finance, treasury and capital markets in London, Hong
Kong and New York.
-- Eoin will receive an annual salary of GBP600,000. He will
join the pension scheme on the same terms as all colleagues and
will be eligible to participate in the Annual Bonus Scheme and
Performance Share Plan in line with his start date. In accordance
with M&S' remuneration policy, he will be provided with
short-term domestic mobility allowances and as per the company's
recruitment policy he will receive replacement share awards to
compensate him for those forfeited by him joining the business.
They will vest in occurrence with the original award time
horizons.
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END
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