A past pupil of Catholic University School in Dublin’s Leeson St, Mr Tonge graduated from UCD with a degree in engineering before moving into the world of banking with Goldman Sachs in 1994.

Over the next decade he worked in finance, treasury, and capital market roles in London, Hong Kong, and New York. 

Leading acquisitions

Mr Tonge returned to Ireland and became the group capital markets director at Greencore in 2006, holding various roles, where he was credited with leading several acquisitions and leading the group’s grocery division — shaping the firm’s "food to go" convenience food strategy.

Mr Tonge took up the role of chief financial officer and chief strategy officer at Marks & Spencer in June 2020, leaving the British retailer two years later to join ABF as finance director. 

Now, he steps into the chief executive role at ABF’s Primark division during a challenging period. 

In January, Mr Tonge reduced Primark and Penneys’ annual sales guidance for 2025 from mid-single digit sales growth to “low single digit” on the back of weak trading in its main Irish and British market in the Christmas quarter.

 “It would appear to us that there are more challenges at the lower-income side of things,” he told Reuters.