The Marks & Spencer chairman, Sir Stuart Rose, is set to face down shareholder unrest over executive pay at the retailer’s AGM today.
Sir Stuart last week told The Grocer he was certain all motions would be passed at this afternoon’s meeting at the Royal Festival Hall - his last as chairman of the high street icon.
Top of the agenda for shareholders will be a remuneration package that includes the bumper pay deal for new chief executive Marc Bolland.
The £15m ‘golden handshake’ given to Bolland has been the subject of intense scrutiny since his defection from Morrisons.
Meanwhile, Sainsbury’s is also holding its AGM today, with the pay for chief executive Justin King also likely to come under the microscope.
‘Return to quality’ helps M&S beat market (7 July 2010)
M&S performance helps Sir Stuart double his money (11 June 2010)
Backlash over Bolland’s £15m golden hello (2 February 2010)