M&S appoints new finance boss as it outsources 250 jobs in IT

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M&S CFO

Marks & Spencer has raided the senior ranks of Dixons Carphone to appoint Humphrey Singer as its new chief finance officer.

Singer will take up his appointment on a date to be confirmed and will report to chief executive Steve Rowe.

Singer has been group finance director of Dixons Carphone since 2014 following the merger of Dixons Retail with Carphone Warehouse Group.

He became group finance director of Dixons in 2011, having held several other finance roles since joining the company in 2007.

The news comes less than a day after the high street giant announced it would outsource more than half of its 430-strong IT team as part of an initiative to cut costs by around £30 million a year.

The group said around 250 roles will transfer to Indian giant Tata Consultancy Services, although they will remain based at M&S’s IT headquarters at Stockley Park in Middlesex.

The retailer will consult with 30 of those transferring over their roles, which are set to change following the move, either due to location or function.

M&S said these staff may choose to leave the business, but stressed it was not launching a redundancy or voluntary redundancy programme.

The department store and food retail chain will retain a small in-house IT team of around 170 people following the overhaul, which is set to take place from March 1.

It is expected to save M&S around £30 million a year by 2021-22, but it anticipates it will take a one-off hit of £25 million.

The IT overhaul is part of a five-year turnaround plan being led by Rowe, which is already seeing a raft of shops shut and a withdrawal from international markets.

Singer’s appointment was also made as part of the transformation programme.

He will replace Helen Weir who is departing M&S on March 31.

In addition, Singer’s appointment is the second time M&S has poached someone from Dixons Carphone, having hired former customer director Victoria Self in November for the digital director role that had been vacant since March.

M&S’s Christmas trading update will be revealed tomorrow, which is set to see the retailer record another steep decline at its troubled womenswear division.

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