Primark expected to appoint interim CEO permanently

Primark owner Associated British Foods is expected to name its current interim CEO, Eoin Tonge, as its permanent choice for the position.

Tonge took over as interim CEO last year, following the departure of the precious Chief Executive Paul Marchant, who resigned over inappropriate behaviour.

Tonge was previously finance chief for parent company Associated British Foods (ABF), which also owns grocery brands including Ryvita and Twinings, for close to two years before taking over the leadership position at Primark.

Before that, he worked at Marks & Spencer as Chief Financial & Strategy Officer.

Prior to joining the fashion world, he held senior positions at convenience foods business Greencore and various roles at Goldman Sachs.

Former Primark CEO Marchant had led the Dublin-based fast fashion chain, which runs more than 450 shops, since 2009, when he took over as Chief Executive from founder Arthur Ryan.

Immediately following the news of his departure last year, shares in ABF fell by 4%.

In January 2026, Primark adjusted its financial outlook, despite a growth in UK sales. This adjusted outlook was upheld earlier this month, when ABF reaffirmed its recent trading update for Primark.

The fast fashion retailer, which remains ABF’s largest division, delivered revenue of £3.5 billion over the period, with an increase in sales across the US and UK offset by a slight decline in sales across Europe.

George Weston, chief executive of Associated British Foods, commented that while Primark had a “challenging start to the financial year, with a mixed performance”, The group was “making good progress to deliver Primark’s medium- and longer-term growth opportunities”.

The retail giant has been taking action and investment to strengthen its customer value proposition by enhancing its product offer, “improving price perception and increasing digital customer engagement”, including Click & Collect.

With the likely appointment of seasoned executive Eoin Tonge, Primark will strive to continue driving improved sales and profitability while maintaining its push for global store expansion, which recently saw the company open its first London store in almost a decade in the former Debenhams unit in Wimbledon.

A spokesperson from Associated British Foods commented: “ABF announced in March 2025 the search for a permanent CEO. Since that time, the Board has undertaken a rigorous search, assessing both internal and external candidates. The process is at an advanced stage but we will not comment further until the process is complete."

The group is scheduled to announce its interim results for the 24 weeks to 28 February 2026 on 21 April 2026.