IRISHMAN EOIN TONGE has been appointed as the interim CEO of Primark following the resignation of Paul Marchant.

Primark’s parent company Associated British said this morning that Marchant has resigned following an allegation over his behaviour towards a woman in a social setting.

Tonge is the third-ever chief executive of the fast fashion brand, and seen as a safe pair of hands in the industry after he was previously selected to guide Marks & Spencer’s finances through a tough period between 2020 and 2022.

The UCD graduate started in Irish food group Greencore in 2006, eventually being chosen to lead the firm’s UK division and later, in 2016, took the reins of the company’s finances as the Chief Financial Officer (CFO).

Tonge moved to Marks & Spencer (M&S) in June 2020 as CFO, during the Covid-19 pandemic and the cost of living crisis in Ireland and the UK.

M&S was already dealing with a financial crisis, after it fell out of the FTSE 100 in 2019, and was attempting to deal with the negative impacts of the pandemic, including store closures and staff layoffs, when Tonge joined.

In 2022, when M&S’s finances had stablised, he was credited with assisting in the complete restoration of M&S’ balance sheets by chairman Archie Norman.

Tonge was also commended for creating a “strong platform” for the retailer at the end of pandemic restrictions in the UK and in Ireland and his “great contribution to the transformation of M&S”.

After the retirement of former M&S boss Steve Rowe, Tonge sought to take over as CEO at the firm but was unsuccessful.

He then joined Associated British Foods (ABF), the owner of Primark, as CFO.

He holds position on the Board of Directors at Primark, which trades as Penneys in Ireland and is headquartered in Dublin where the first started on Mary Street, before becoming a global fashion brand.

It was announced today, following the resignation of Paul Marchant, that Tonge will now take over as interim CEO, working with the brand’s senior executives and strategic advisory board.

He is the third CEO at the Irish brand as Marchant took over from founder Arthur Ryan in 2009 and has stepped down with immediate effect following an investigation.

ABF said today that the incident related to “his behaviour towards (a woman) in a social environment”. The company said Marchant co-operated with the investigation.

Marchant has acknowledged “his error of judgment and accepts that his actions fell below the standards expected by ABF”, the company said. He has also made an apology to the individual, it added.