M&S CFO Tonge leaving to take up new role at AB Foods

Marks & Spencer said on Thursday that chief financial officer Eoin Tonge will be leaving the retailer after just over two years to become finance director at Associated British Foods.

The company is now kicking off a process to appoint a successor and Tonge will stay on in his role in line with his notice period, which will include supporting the business through its interim results in November.

Chairman Archie Norman said: "Eoin has made a great contribution to the transformation of M&S, bringing quality and rigour to the finance function and building a very strong team. Our financial controls, reporting, and financial discipline are in a far stronger place than when he arrived.

"Under his guidance, we have restored the balance sheet and created a strong platform for the next phase. Eoin has been extremely helpful in supporting the board and seeing through our planned succession to Stuart Machin as chief executive and Katie Bickerstaffe as co-chief executive. He has been a great colleague; we thank him for his efforts at M&S and wish him well in his new role."