January 3, 2020 / 11:13 AM / 7 months ago

M&S names former Tesco executive as interim finance chief

FILE PHOTO: A man leaves a Marks & Spencer store in London, Britain, in this January 7, 2016 file photo. REUTERS/Toby Melville/File Photo

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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