Conflict of Interest Leads to Board Resignation

  • M&S non-exec Andrew Fisher resigns over poaching of Rightmove finance chief
  • Fisher served on the M&S board since December 2015
  • Alison Dolan appointed as new CFO of M&S
  • Fisher’s tenure at M&S was nearing its end, but poaching of Dolan made his position ‘untenable’

M&S non-executive Andrew Fisher has resigned from the board after discovering that M&S was hiring Alison Dolan, the finance chief from another company he chairs, Rightmove. Fisher had been on the M&S board since December 2015 and was nearing the nine-year term limit for independence under UK’s corporate governance code. The appointment of Dolan made his position ‘untenable’, leading to his early resignation.

Factuality Level: 8
Factuality Justification: The article provides accurate and relevant information about Andrew Fisher resigning from the M&S board due to the appointment of Alison Dolan as the new CFO. It also mentions Fisher’s tenure at M&S and his position at Rightmove. However, it contains some redundant information about Tesco launching an online marketplace which is not directly related to the main topic.
Noise Level: 6
Noise Justification: The article provides relevant information about the resignation of Andrew Fisher from M&S board due to the appointment of Alison Dolan as CFO and mentions Tesco’s new online marketplace launch, but it lacks in-depth analysis or actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: Marks & Spencer (M&S) and Rightmove
Financial Rating Justification: The article discusses the resignation of a non-executive director from M&S board due to the appointment of a new finance chief from another company he chairs, which could impact the financial operations and decision-making process of both companies. This is relevant to financial topics as it involves changes in leadership positions within these companies.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.

Reported publicly: www.retailgazette.co.uk