M&S appoints ‘young and energetic’ FD

Troubled UK retailer Marks & Spencer has appointed former Rank Group finance director as its new FD, as its restructured management team starts to take shape.

Link: M&S finance chief’s departure delayed

The group said it had selected 42-year-old Ian Dyson to replace departing finance director Alison Reed. M&S added Dyson’s start date was currently being finalised, while Reed will leave the struggling clothes and food retailer at the end of April.

Dyson is credited with refocusing filmakers Rank Group and has been there since 1999. He is also a non-executive director of software business Misys, but will step down at the company’s AGM in September 2005. A former partner at Arthur Andersen, he has also been group financial controller of the Hilton Group.

M&S CEO Stuart Rose called Dyson ‘young and energetic’ and said that his appointment was in line with ‘building a team for the long-term’.

‘Ian comes from a highly competitive sector, which has seen enormous change in recent years,’ said Rose. ‘His track record at Rank has demonstrated his ability to deliver in that environment, and his experience in restructuring businesses will be important in re-building the fortunes of Marks & Spencer.’

Dyson said he was ‘delighted to be joining M&S’ and that he was ‘looking forward to the challenge’.

Rose thanked Reed for her ‘substantial contribution’ over the last 20 years. Today’s appointment leaves only the vacancy of chairman to be filled on the company’s board.

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