The CFO of M&S, Eoin Tonge, has been named as Associated British Foods (ABF) next finance director, as he is set to leave his current role with the high street retailer in November.
Joining ABF by February 2023, Tonge has held the position of CFO at M&S since June 2020 and most recently took on the additional role of chief strategy officer in May of this year.
Tonge will succeed John Bason, who is retiring as the food processing company’s finance director and stepping down from its board.
Bason is set to remain in his current position until April 2023 to ensure a smooth transition, before becoming chairman of the company’s strategic advisory board and senior advisor of Primark, ABF’s retail business.
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“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, M&S chairman Archie Norman said.
“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.”
This news comes as M&S is set to scrap best before dates on over 300 lines of fruit and vegetables in a bit to tackle food waste.
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