Marks & Spencer hire Stewart as CFO

The home ware and food retailer Marks and Spencer Group U. K. clothing, expressed on Tuesday that it has hired Alan Stewart as its chief financial officer.

Stewart, who is at the moment, is working as CFO at aircraft leasing company AWAS, shall commence at the retailer by the end of October. Formerly, he was designated as the finance director at stationery, book and newspaper group WHSmith.

Stewart shall swap Ian Dyson, who shall be joining U. K. pub firm Punch Taverns as chief executive.

Dyson tied its knot with M&S as finance director in the year June 2005, but botched to get the chief executive's act, which in its place went to Marc Bolland, previously of William Morrison Supermarkets.

According to the Investec Securities Analyst David Jeary, it's a good selection and optimistic news. Jeary further added that Stewart shall also have the experience in the leisure industry, which might be useful to M&S moving forward.

To it the execution Noble analysts pinched that Stewart has a image of veteran in industrial cost control, having executing the restructuring programs at the U. K. functions of Thomas Cook Group and WHSmith.