M&S non-executive Andrew Fisher has quit the board following the appointment of the retailer’s new finance chief from Rightmove, another company he chairs.
According to Sky News, the long-serving director only discovered late in the recruitment process that the high street chain wanted to hire Alison Dolan from Rightmove as its new CFO.
Fisher, who has been chair of the online real estate platform since 2020, resigned from the M&S board on Tuesday last week.
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The retailer announced on Wednesday that Dolan would join, taking over from interim CFO Jeremy Townsend, who will remain in place until May 2025.
Fisher has served on the M&S board since December 2015, meaning he was coming up to the nine-year term limit for independence under the UK’s corporate governance code.
A source close to Rightmove told the publication that while Fisher’s tenure at M&S had been nearing its end, his position on the retailer’s board had been rendered “untenable” by the poaching of Dolan.
He will step down early next month, and will not seek re-election to the M&S board at its annual shareholder meeting.
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