Wednesday 19th November, 2014

Marks & Spencer has appoiinted retail rival John Lewis's well known finance chief, Helen Weir as its new Chief Financial Officer.

Weir will succeed Alan Stewart, who left M&S in the summer to join the beleaguered Tesco as CFO three months earlier than planned, when the extent of the firm's financial black hole was revealed.

Helen Weir joined John Lewis in 2012 from Lloyds Banking Group plc where she was Group Executive Director. Prior to this, Weir was Group Finance Director of Kingfisher plc, and Finance Director of B&Q.

Marc Bolland, Chief Executive, M&S, said:  

"We are delighted to be appointing Helen as CFO. She is extremely well qualified, and brings a wealth of relevant financial, retail and consumer experience. We look forward to her joining the M&S team."

M&S said, she would receive a basic annual salary of 590,000 pounds along with standard benefits commensurate with her position.