World News

M&S names former Tesco executive as interim finance chief

LONDON (Reuters) – British retailer Marks & Spencer <MKS.L> on Friday named former Tesco <TSCO.L> executive David Surdeau as its interim chief financial officer, temporarily filling a void left by the departure of Humphrey Singer.

Surdeau, who spent 15 years at Tesco, Britain’s biggest retailer, in various finance roles, will start on Jan. 7 and report into group chief executive Steve Rowe.

Singer left M&S on Dec. 31. His departure was announced in September after little more than a year in the role.

A spokeswoman for M&S said Surdeau was not a candidate for the permanent CFO position.

M&S is due to update on its Christmas quarter on Jan. 9.

In November it reported a 17% drop in first-half profit, dragged down by falling clothing sales, but said it was confident it could fix its problems and return to growth.

M&S shares were down 1.5% at 1129 GMT, extending its losses over the last year to 11.4%.

(Reporting by Tanishaa Nadkar in Bengaluru and James Davey in London, Editing by Maju Samuel and Paul Sandle)

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