Marks & Spencer has unveiled a former director at WHSmith as its finance director, ending a three month search. Alan Stewart, who is currently the finance director at Awas, the private equity-owned aircraft leasing company, will join by the end of October.
He will replace Ian Dyson, the group finance and operations director, who announced in May he was leaving to become chief executive of the pub company Punch Taverns.
This came just one day after Marc Bolland joined M&S as chief executive from Morrisons. Mr Stewart, who was group finance director at WHSmith from 2005 to 2008, will earn a salary of £550,000 at M&S. This is less than the £692,000 Mr Dyson was paid although his remit was broader. Mr Stewart will also receive a performance-related cash bonus and share awards.