UK: M&S CFO Stewart steps down for Tesco role
Alan Stewart, the CFO of UK retailer Marks & Spencer, has stepped down to take up the role of finance chief with Tesco.
Stewart will leave M&S on a date and on terms to be agreed, the retailer said today (10 July). A search for his successor is currently underway.
Stewart started his career in investment banking with HSBC and then became CFO at Thomas Cook Holdings in 1998. He was appointed UK CEO in 2001. From there he moved to WH Smith as group CFO, and in 2008 was appointed CFO at aircraft leasing business AWAS, before moving to M&S in 2010.
He will take over from Laurie McIlwee who announced his decision to resign from the post in April.
Tesco CEO Philip Clarke, said: "When we set out on this search we wanted a candidate who had the right blend of experience, leadership and values to play a leading role in the transformation of Tesco. We have found all three in Alan. I am looking forward to working alongside him and I know Tesco will benefit from the breadth and depth of his experience."
M&S this week reported its twelfth consecutive quarterly decline in general merchandise sales, which includes clothing.
Around 274 garment factory workers in Cambodia have fainted in the last week at sites in Phnom Penh, Takeo and Kandal....
Certification body Oeko-Tex has made its Made in Green sustainability certification label available to the textile industry for the first time....
The most-read stories on just-style this week include news that Myanmar has introduced its first minimum wage for garment workers, Marks & Spencer is to launch a supply human rights policy, and Adidas...
- Under Armour on track with new UAS sportswear line
- Myanmar garment exports surged 20% in 2015
- EU trade ministers push on TTIP and Canada pacts
- What does the future hold for world wool supply?
- Why synthetic fibres are a safe bet for the future
- US retailers urge action on Hanjin Shipping crisis
- Zara launches eco-friendly Join Life collection
- Adidas unveils first Speedfactory running shoe
- Bangladesh calls for US duty-free apparel access
- Ascena Retail disappoints amid challenging year
- Too Many Standards
- Apparel (GLOBAL) - Industry Report
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Ralph Lauren Corporation : Retailing - Company Profile, SWOT & Financial Analysis
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras