But it is still to name a start date for Richard Price, its new clothing boss who was recruited from Tesco (Shares in M&S were down 1.3% at 1132 GMT, while shares in Greencore were down 0.3%. Before joining Greencore he worked for investment bank Goldman Sachs (He will receive an annual salary of 600,000 pounds ($775,800) and will be eligible to participate in M&S’s annual bonus scheme and performance share plan. 'I'm excited to be joining the board and management team to drive forward the transformation of the business, realise its full potential and make it special again. Eoin Tonge joins the retailer from Greencore, replacing Humphrey Singer, who quit shortly after M&S was ejected from the FTSE 100 last year.
'David Surdeau, currently interim finance chief, will remain with the business to support Mr Tonge during a transition period.At Greencore, which makes sandwiches for the majority of UK retailers, Mr Tonge oversaw the sell-off of the company's US business and simplified the business. REUTERS/Toby Melville/File Photo Eoin Tonge said he had greatly enjoyed his 14 years in a variety of leadership roles at Greencore.

Chief executive Patrick Coveney receives a pension package worth €315,000 - or 35% of his basic salary - with chief financial officer Eoin Tonge getting 25% of his salary.
LONDON (Reuters) - British retailer Marks and Spencer (L: MKS) said on Tuesday it had appointed Eoin Tonge as its new chief financial officer, taking over from interim CFO David Surdeau in June. Marks & Spencer has hired Eoin Tonge as its new chief financial officer, replacing Humphrey Singer who quit shortly after the retailer was demoted from the FTSE 100 last September.Tonge is due to join in June with a basic salary of £600,000 – up from the £428,655 he received at the UK’s biggest sandwich supplier Greencore, where he is currently chief financial officer.His salary is slightly down from the £612,000 his predecessor Singer received.Nonetheless, M&S said Tonge would also receive a pension contribution “on the same terms as all colleagues”.By comparison, group chief executive Steve Rowe receives a pension contribution of 25 per cent.Meanwhile David Surdeau, currently interim finance chief, will remain with the business to support Tonge during a transition period.“Eoin’s appointment concludes a rigorous search for a world-class finance director,” Rowe said.“He brings in-depth knowledge of food, as well as strategy and operations, and is another addition to the very strong management team we are building to transform M&S.”Tonge said: “Marks & Spencer is a brand that I have admired as a customer as well as a supplier for some time.“I’m excited to be joining the board and management team to drive forward the transformation of the business, realise its full potential and make it special again.”At Greencore, which makes sandwiches for the majority of UK retailers, Tonge oversaw the sell-off of the company’s US business and simplified the business.He was also chief strategy officer and managing director of Greencore’s grocery division.Between 1994 and 2006 he worked at Goldman Sachs in finance markets across London, Hong Kong and New York.Singer quit M&S on a Saturday last September, calling it “the right time to move on” after the retailer left the FTSE 100 for the first time in its history.M&S also bolstered its top team earlier this month, with non-executive director Katie Bickerstaffe appointed chief strategy and transformation director as the retailer’s turnaround scheme steps up in pace.M&S also appointed former N Brown group chief financial officer Craig Lovelace as its new food finance chief, replacing Nick Hewitt. M&S names Greencore's Eoin Tonge as new finance chief. If you click on them we may earn a small commission. He starts formally in June and will trouser a basic salary of £600,000 - up from the £428,655 he received at Greencore. He was also chief strategy officer and managing director of Greencore's grocery division.Between 1994 and 2006 he worked at Goldman Sachs in finance markets across London, Hong Kong and New York.His predecessor Singer quit last September, calling it 'the right time to move on' after the retailer left the FTSE 100 for the first time in its history.M&S also bolstered its top team earlier this month, with non-executive director Katie Bickerstaffe appointed chief strategy and transformation director.Some links in this article may be affiliate links. He replaces Humphrey Singer, who stepped down in September. London, W2 1NW M&S said David Surdeau, currently interim CFO, would remain with the business to support Tonge as he moves into his new job. Awards to chief executive Steve Rowe and incoming finance director Eoin Tonge will be capped at 175 per cent of salary rather than the normal 250 per cent, the company said on Wednesday.

Tonge will receive a basic salary of £600,000 – up from the £428,655 he received at Greencore – when he joins in June. We are no longer accepting comments on this article.Get a discount code to save on your internet securityDiscover a range of promo codes on kitchen appliancesHow to survive the dividend drought: Covid sent payouts plummeting in the second quarter... but relief may finally be at handBritain's economy on course for rapid recovery from coronavirus crisis, predicts Bank of England chiefSay yes to the Yaris: Toyota's striking new supermini dodges the deplorable sin of being boring, says RAY MASSEYI can't go to France due to the new quarantine restrictions and FCO advice, will I get a refund on my flights?Is the coronavirus recession better or worse than it looks? The plan suffered a setback last month when M&S reported a disappointing Christmas trading update, hammering its share price. We know 2020 has been a challenging year for workplaces around the world.