Marks & Spencer announces Alison Dolan as the new chief financial officer, marking a significant leadership shift.
- Dolan is transitioning from Rightmove, bringing extensive experience from News UK and Sky.
- Interim CFO Jeremy Townsend will continue until May 2025 during this transition period.
- The retailer has reported a substantial 33% increase in adjusted operating profit this year.
- M&S is witnessing growth in its market share for clothing and an impressive rise in sales.
Marks & Spencer has recently confirmed the appointment of Alison Dolan as its new chief financial officer. This strategic hire is expected to enhance the company’s leadership as it continues its transformation journey.
Dolan will join from Rightmove, where she currently holds the position of CFO. Her diverse experience, including her roles at News UK and Sky, positions her as a highly qualified individual for this new role at M&S.
The transition will be facilitated by Jeremy Townsend, who will remain as interim CFO until May 2025, ensuring a smooth changeover. Townsend’s leadership has kept M&S in robust financial health, providing a strong foundation for Dolan to build upon.
The financial year closing on 30 March 2024 showcased M&S’s impressive performance, with adjusted operating profit increasing by 33% to £838.6 million. This growth underscores the efficiency of the company’s strategic initiatives and operational execution.
Additionally, the company’s market share in clothing saw a rise from 9.6% to 10%, demonstrating its growing influence in this sector. Correspondingly, sales in the clothing and home division increased by 5.3% year on year, with profits soaring by 21% to £402.8 million.
Alison Dolan’s appointment marks a promising new chapter for Marks & Spencer as it continues to expand its market presence.
