Marks & Spencer joined the ranks of retailers announcing board level changes on Monday, appointing Ian Dyson as group finance director. Dyson replaces Alison Reed, who will leave M&S at the end of April. He is moving from leisure group Rank.

M&S chief executive Stuart Rose said: "Ian comes from a highly competitive sector, which has seen enormous change in recent years. His track record at Rank has demonstrated his ability to deliver in that environment and his experience in restructuring businesses will be important in re-building the fortunes of Marks & Spencer." He is young and energetic, and with this appointment we are building the team for the long-term."

Rose added: "I would like to thank Alison for her substantial contribution over the last twenty years. She leaves with our best wishes for the future."Dyson said: "I am delighted to be joining Marks & Spencer and look forward to the challenge."