Tesco loses divisional FD to New Look

by Richard Crump

More from this author

06 Jun 2014

  • Financial Director
  • Comments
New Look

TESCO has lost a second senior finance executive in quick succession after Mike Iddon, its group finance director for planning, treasury and tax, joined New Look as chief financial officer.

Iddon's departure is a fresh blow for the retailer after its CFO Laurie McIlwee announced in April that he would be stepping down amid speculation of a rift with chief executive Phillip Clarke over strategy and investor unrest. It caps a miserable week for Tesco, which posted a 3.8% fall in like-for-like sales for the quarter ending 24 May.

He replaces New Look CFO Alastair Miller, who is stepping down after 13 years with the business to concentrate on building a portfolio of non-executive roles.

Iddon has held numerous senior positions in his 13 year career at Tesco and before his current role was the UK FD and a member of the UK leadership team from 2009 to 2012, finance director in Tesco South Korea, group property FD and non-food finance director. Prior to joining Tesco, he held senior positions at Kingfisher and Whitbread.

Commenting on the announcement, Anders Kristiansen, CEO of New Look, said: "We are delighted to appoint Mike as our new CFO. Mike brings with him an excellent track record and also a highly valuable breadth and depth of experience of the retail sector."

Mike Iddon, CFO designate, commented: "I am very excited to be joining New Look at this pivotal point in its story, as it looks to consolidate its impressive achievements in the last two years and focus on its next phase of growth - both in the UK and internationally. I look forward to working with Anders and the team to help realise New Look's undoubted potential."

 

Visitor comments

blog comments powered by Disqus
display:none

Add your comment

We won't publish your address


By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication

Submit
  • Send
No matching document

Appointments to University Committees

University of Glasgow 120x60University of Glasgow - Glasgow - unremunerated positions

 

 

Newsletters

Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials

Careers

Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you

Briefings

budget-management

Why budgeting fails: One management system is not enough

If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.

cchcover

iXBRL: Taking stock. Looking forward

In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.