Marks & Spencer prunes Rose’s pay by 25pc

Sir Stuart Rose, the executive chairman of Marks & Spencer, will take a 25pc pay cut when he becomes non-executive chairman of the high street chain following the imminent arrival of Marc Bolland as chief executive The Daily Telegraph reports

M&S also said that Sir Stuart will leave the company four months earlier than planned – in March next year as opposed to the summer.

From July 31 this year, when Sir Stuart steps up to the non-executive chairman’s role, he will draw a salary of £875,000, compared to his current salary of £1.16m. He will still be entitled to a bonus and M&S’s Long Term Incentive Plan (LTIP) as chairman. Full article here

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