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Article: M&S offers olive branch in row over Rose's elevation
- Article from:
- The Independent (London, England)
- Article date:
- April 3, 2008
- Author:
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Copyright informationCopyright 2008 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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Marks & Spencer is refusing to compromise after extensive
discussions with shareholders over the elevation of its chief
executive, Sir Stuart Rose, to the position of executive chairman.
However, a number of concessions are to be offered in an effort
to defuse the row. Chief among these would be to make Sir Stuart
face re-election to the board each year at the end of the annual
meeting. He will also forego a pay award he was due to receive for
becoming chairman. Marks & Spencer is also repeating promises to
recruit a new senior independent director with enough experience to
satisfy City demands for a counterweight to Sir Stuart in the
boardroom.
The retailer provoked a storm of protest last ...
Related newspaper, magazine, and journal articles:
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Article: Sir Stuart's famous escape.
The Daily Mail (London, England);
July 10, 2008 ;
700+ words
......against thedecision by the board to elevate Sir Stuart Rose to executive chairman passedcomfortably with only 22pc of investors...retreat would be to ditch anexperienced executive chairman who has seen most of these events before...
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