Marks & Spencer has confirmed it is parting ways with its finance chief less than two years after he took on the role.
The retail giant’s group chief financial officer Humphrey Singer is leaving the business in the latest high-profile departure to rock the company.
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Coming after the exit of clothing executive Jill McDonald two months ago, Singer said on Saturday that he was leaving the company.
“After eighteen months of working with Steve to lead the transformation strategy and rebuild the finance function I have decided that now is the right time to move on,” he said.
M&S is set to be formally relegated from the London stock market’s FTSE 100 tomorrow following several years of worsening conditions on the high street.
Sky News reported that Singer, who joined from Dixons Carphone, was said to have been unhappy in the role.
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Chief executive Steve Rowe said that Singer had been “a huge asset to the business”.
has helped to establish the foundations of our transformation with a
stronger balance sheet, robust financial controls and a much keener
focus on reducing our cost base,” Rowe added.