Primark owner poaches M&S CFO for Financial Director role
Associated British Foods, the owner of Primark, has appointed Eoin Tonge as its new Finance Director. The company confirmed he will join the business no later than February 2023.
Tonge is currently Chief Financial Officer and Chief Strategy Officer at Marks and Spencer Group. Prior to M&S, he served as Chief Financial Officer of Greencore Group from 2016 to 2020.
Tonge will succeed John Bason in the role, who will be retiring as Finance Director and stepping down from the ABF Board. Bason has agreed to stay on as Finance Director until the end of April 2023 to ensure a smooth transition.
After stepping down from the ABF Board, Bason will become Chairman of a newly constituted Strategic Advisory Board and Senior Advisor at Primark.
George Weston, CEO of Associated British Foods, said: “I’m delighted to welcome Eoin to ABF. His extensive knowledge and experience of both retail and food industries along with his energy and broad understanding of business make him an ideal successor to John as Finance Director. I am confident he will make a strong contribution to the senior management team and to the business.
"John has been at ABF for more than 23 years. I am delighted therefore that he will be making his experience available to Primark. The environment in which Primark operates is becoming increasingly complex, presenting the business with substantial opportunities for growth. The board will support Paul and his team as they examine these opportunities to develop and grow the business.”
Eoin Tonge, newly appointed Finance Director of Associated British Foods, said: “ABF has a prestigious heritage, a strong sense of purpose and an exciting portfolio of diverse businesses. I am looking forward to working with the management teams to meet the challenges ahead and drive growth.”