Marks and Spencer’s former finance chief to join Belron
Marks & Spencer’s ex-finance chief will make a swift return to the corporate world, only eight days after leaving the British retail stalwart.
Humphrey Singer, who worked for Marks &Spencer’s for less than two years, will become the new chief financial officer at Belron, a vehicle glass repair firm.
Read more: Ocado joint venture with Marks and Spencer working well
According to Sky News, who were tipped off by Belron insiders, the appointment will be publicly announced on Thursday.
The firm owns companies such as Autoglass, the world’s largest windscreen repair group, as well as brands like Carglass and Safelite.
Belron was valued at around $3bn (£2.3bn) in 2018 when private equity firm Clayton Dubilier and Rice acquired 40 per cent of its shares.
The company has around 11m customers in 30 countries.
Singer’s departure from Marks & Spencer came shortly after the retailer was relegated from the FTSE 100 for the first time in the premier index’s thirty-year history.
Company chairman Archie Norman was reportedly displeased with the way Singer handled a £600m rights issue for the purchase of 50 per cent of Ocado’s UK retail operations.
Marks & Spencer have looked inward to replace Singer, announcing David Surdeau would become interim finance chief.
Despite a search of several months, it decline to appoint any of the candidates suggested by headhunters.
Read more: Marks and Spencer hires new clothing boss to fix struggling division
Before joining the company, Singer was chief financial officer at Dixons Carphone, and also held roles at Cadbury-Schweppes and Coca-Cola.
City PM has contacted Belron for comment.