A second row has erupted over Marks & Spencer's decision to appoint Sir Stuart Rose as CEO and executive chairman.

Sir Stuart will take up the combined role on 1 June, however M&S's second largest shareholder Legal & General Investment Management, which criticised the move when it was first announced earlier this month, said it did not support the appointment.

“While we understand their arguments, we do not agree that this is a necessary structure to allow for the successful appointment of a successor to the current chief executive,” Mark Burgess, head of equities at M&S's second largest shareholder Legal & General Investment Management, said in a statement.

“We do not support a dilution in corporate governance standards, particularly in leading UK companies.”