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UK: Diageo appoints Marks & Spencer CFO to board

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Diageo has announced Marks & Spencer's CFO will be joining its board of directors.

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Alan Stewart, who is also repsonsible for IT, supply chain and logistics at the retail chain, will take up the post as a non-executive director from 1 September, the drinks group said today (9 May). Prior to joining M&S in 2010, Stewart was CFO at aircraft leasing firm AWAS and, before that, finance director at WH Smith for four years.

Stewart, who was educated in South Africa, also spent seven years as UK chief executive of Thomas Cook.

Franz Humer, Diageo's chairman, said: “Alan’s strong track record in accountancy and financial management together with his experience in retail, travel and the banking industries will be of great value to Diageo as we continue to focus on driving long-term profitable growth."

The company's last non-exectuive appointment was Ho KwonPing, chairman and founder of hospitilaity firm Banyan Tree Holdings, in 2012.

Last month, Diageo reported flat nine-month sales and a drop in volumes.


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