Marks Electrical CFO Tom Pallatt to step down after less than a year
Marks Electrical has announced that its chief financial officer, Tom Pallatt, has decided to step down after less than a year with the business.
Pallatt joined the online retailer as interim chief financial officer in November 2025, when he succeeded Josh Egan, who left the business to join Roadchef. Pallatt’s appointment became permanent on 1 April.
Subscribe to TRBPreviously, Pallatt worked at brick manufacturer Ibstock for 17 years, most recently as finance director.
In a statement to the London Stock Exchange, Marks Electrical said: “Tom Pallatt, chief financial officer, has informed the board of his decision to leave the company.
“Marks Electrical is now commencing a process to appoint a successor. Tom, who remains a director of the company, will continue to fulfil his current role, which will include supporting and facilitating a smooth transition.”
Last month, Marks Electrical reported that its revenue declined by 7.5% to £104.8 million in the year to 31 March. Adjusted EBITDA was also down, falling to £2.5 million from a previous £4.2 million.
In the same month, it also emerged that the group had been fined £720,000 by the Competition and Markets Authority after it was found to have automatically opted customers into additional paid services. It was also ordered to refund a total of around £600,000 to affected shoppers.
