Humphrey Singer, Marks & Spencer’s group chief financial officer, has announced plans to leave the retailer.
Singer will work with chief executive Steve Rowe and the M&S board to ensure a “orderly transition” and a succession process is now underway. A departure date has not yet been confirmed.
In a statement, Singer said: “I feel privileged to be a part of the challenging but hugely rewarding turnaround at Marks & 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 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. 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 & 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.”
Singer joined M&S in July last year.