# Primark appoints new permanent boss as parent firm reviews spin-off

By Dan Coatsworth — 2026-03-05

Dan Coatsworth, head of markets at AJ Bell, said: “Eoin Tonge has secured the top job at Primark on a permanent basis after being interim CEO for the past year.

“He is an interesting choice given a background as both a numbers and strategy person for the likes of Marks & Spencer and Greencore.

“These skills will be useful given that Primark operates on thin margins and cannot afford to waste a single penny.

“Watching the bottom line is vital but so is pushing harder on marketing and ensuring Primark remains a go-to destination in what’s currently a tough retail market.

“Primark’s success lies on drawing people into shops and persuading them to leave with a basketful of goods.

“It’s a volume game, and Primark needs to see shopping bags bursting at the brim.

“Putting Filip Ekvall into the newly created chief commercial officer role also gives Tonge valuable support in the quest to put Primark back on top after a patchy period.

“Ekvall has considerable experience with H&M, which is one of Primark’s biggest competitors on the high street.

“With the new team now in place, parent group Associated British Foods will be hoping for a rapid improvement in sales and profit growth if it still wants a fighting chance of spinning off Primark.

“The better the financial and strategic position of Primark, the higher the valuation investors will be prepared to pay to own shares in the retail business as a standalone entity.”

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