M&S made a significant announcement on Wednesday, revealing that Alison Dolan will be the new Chief Financial Officer and board member. She is set to take over from interim CFO Jeremy Townsend, who will remain in his role until May 2025 to ensure a smooth transition.
CEO Stuart Machin expressed his enthusiasm about Dolan’s appointment, highlighting her extensive experience in fast-paced, digitally-driven businesses. He believes her expertise will be invaluable as M&S continues its transformation journey.
“Alison’s calibre is a testament to M&S’s ability to attract top talent. Her experience will be crucial in this next phase,” Machin stated. He also praised Townsend for his contributions, noting that he will leave the company in its strongest financial health in decades, but emphasized that Townsend will stay on board for another year to facilitate the handover.
Dolan, currently the CFO at Rightmove plc, brings a wealth of experience in finance, strategy, and transformation from her previous roles at News UK and Sky. Her appointment comes at an opportune time for M&S, as the retailer is experiencing a surge in sales and profits, coupled with plans for further investment in its store estate to open new locations and upgrade existing ones.
The exact start date for Dolan will be announced later, but it’s expected she will begin before Townsend’s departure to ensure a seamless transition.
