Marks & Spencer Group PLC (LON:MKS) has appointed an interim chief financial officer while it continues it search for a permanent replacement.
The FTSE 250 retailer said David Surdeau will take on the role from 7 January, filling the vacancy left by Humphrey Singer who stood down on 31 December.
Singer was touted by the firm as a key figure in helping put its balance sheet on a firmer footing, as well as being a critical part of the team behind the company’s joint venture with Ocado Group PLC (LON:OCDO) as well as an associated a £600mln equity raise and dividend cut that was less well received by investors.
Singer’s tenure also included the relegation of M&S from the FTSE 100 for the first time in its history, with the stock currently trading at around a 12-year low.
M&S shares were 1.2% lower at 213.3p in late-morning trading on Friday.