Marks & Spencer CFO exits

Marks and Spencer (M&S) has announced that its group chief financial officer, Humphrey Singer, has decided to leave the business.

M&S said Singer will work with Steve Rowe, group chief executive officer, and the board to ensure an “orderly transition”. A departure date has not yet been decided and will be confirmed by the group in “due course” and, until then, Humphrey will continue with his responsibilities.

Singer said: “I feel privileged to be a part of the challenging but hugely rewarding turnaround at Marks and Spencer. It is a brilliant business and a much-loved brand for our colleagues and our customers. The transformation taking place is of a scale, depth and pace not seen before at the company.

“After 18 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. I will continue to give the business my all and work with Steve and the board to ensure we continue to make progress and that there is an orderly handover to my successor.”

Rowe added: “Humphrey has been a huge asset to the business. He 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.

“In addition, he was a critical part of the team which guided Marks and Spencer through the deal to create our joint venture with Ocado and subsequent equity raise. I look forward to continuing to work with him as we search for his successor.”