M&S names Alison Dolan as new CFO, but with big delay

By

Sandra Halliday

Published
May 29, 2024

M&S had a big announcement late on Wednesday with the retail giant unveiling Alison Dolan as its next Chief Financial Officer and board member.

She’ll take over from interim CFO Jeremy Townsend, but not just yet. He’ll actually remain in post, as planned, for another year with his exit scheduled for May 2025. An exact start date for Dolan will be announced “in due course”. It’s assumed she’ll start before her predecessor leaves with a handover period likely.

CEO Stuart Machin said M&S is “fortunate to attract somebody of Alison's calibre who will be a fantastic addition to the leadership team and with so much experience in fast-paced, digitally-led businesses, [which] will help us in this next phase of transforming M&S”.

He also said Townsend “will leave M&S in the strongest financial health the business has been in for decades. But Jeremy's not going anywhere quite yet and will, as was always the plan, remain with us” for the next year.

So what does the incoming CFO bring to the firm? She’s currently in the same role at the hugely successful digital property portal Rightmove plc, and has previous finance, strategy, and transformation experience in key posts with businesses including News UK and Sky.

The news comes at a buoyant time for the retailer as its sales and profits soar and it announces additional investment in its store estate to open new locations and to upgrade existing spaces.