"After eighteen months of working with Steve to lead the transformation strategy and rebuild the finance function I have decided that now is the right time to move on."
A former Dixons Carphone executive, Mr Singer was hailed by Mr Rowe for his experience at another chain undergoing a rapid transition to multichannel retailing. It was unclear whether Mr Singer would be in line for any form of payoff, although shareholders are likely to be furious if he does receive one given its presentation of the news as his decision.
The high street bellwether has been pursuing a restructuring programme for several years as it tries to keep pace with a fast-changing retail climate.
On his way to ruin some other company now....
I’m surprised they haven’t blamed his departure on Brexit!!
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When will M&S acknowledge that all they can do in the retail climate which has now lasted several years is to slow the rate of contraction of the business. The business model is no longer effective no matter how much management may tinker with it. Sad.
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Genesis chief Singer left the band and the drummer stepped in. Worked out fine for them 🤷♂️😳😳