Marks & Spencer's Rose opts to take Pounds 1m pay cut [Edition 3]

Evening Standard - London › June 22, 2009

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Summary

MARKS & Spencer boss Sir Stuart Rose this afternoon voluntarily waived more than Pounds 1 million of his bonus in a bid to appease shareholders.

Rose and his marketing director Steve Sharp have agreed to hand over their entitlement to large chunks of their performance-related pay that would have been paid in shares.

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Extract

Marks & Spencer's Rose opts to take Pounds 1m pay cut [Edition 3]

The moves came amid mounting concerns about the way the M& S board has been governed, with no apparent successor being groomed for Rose and his controversial position as bo...

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