Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Shared parental leave
    • Redundancy
    • Maternity & Paternity
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
    • OHW Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+

Personnel Today

Register
Log in
Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Shared parental leave
    • Redundancy
    • Maternity & Paternity
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
    • OHW Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+

Latest NewsPay & benefits

M&S boss Stuart Rose to take 25% pay cut when he steps down as chief executive

by Personnel Today 19 Mar 2010
by Personnel Today 19 Mar 2010

Mark and Spencer’s boss Stuart Rose will take a 25% pay cut when he steps down as chief executive of the high-street giant in July.


The cut follows pressure from investors and means Rose will be paid £875,000 for his final months at M&S, rather than £1.16m.


But Rose will leave four months earlier than previously thought, as he will now step down as the company’s chairman in March next year, rather than July 2011.


Marc Bolland – formerly the head of Morrisons – will join as M&S chief in May, leaving a three-month overlap with Rose to ensure a smooth handover,
the Guardian reported.


David Michels, deputy chairman of M&S, said: “The board has set out this process to ensure a smooth transition over the coming months and enable Marc to draw on Stuart’s considerable experience.


“We are pleased to be moving into the final stage of our commitment to split the roles and appoint an independent chairman by March 2011.”


But it is thought Rose’s pay could still lead to a shareholder protest as Rose is set to earn 33% more than the chairman of the much larger Tesco, and nearly four times the chairman’s remuneration at rival fashion chain Next.


One investor told the paper: “We will certainly be voting against the M&S remuneration report this year. This [Rose’s pay] really is the final straw.”

Avatar
Personnel Today

previous post
NHS must show pay restraint to save jobs, HR chief Clare Chapman warns
next post
Nissan electric car protects more than 2,000 jobs in North East

You may also like

How should HR handle the highest inflation in...

18 May 2022

How to respond to an HMRC furlough enquiry

18 May 2022

AI adoption: Skills shortages means UK lagging behind...

18 May 2022

Nurses leaving due to pressure and workplace culture

18 May 2022

Ethnic diversity: report highlights disparities in school leadership

18 May 2022

Accreditation scheme will ‘encourage LGBT+ people to be...

17 May 2022

Bald move: Tribunal was right in sex-related harassment...

17 May 2022

Number of working people with disability up 1.3...

17 May 2022

Wages fall 1.2% behind inflation as cost of...

17 May 2022

Police Scotland pays out £948,000 to female officer...

16 May 2022
  • What it really means to be mentally fit PROMOTED | What is mental fitness...Read more
  • How music can help to ease anxiety at work PROMOTED | A lot has happened since March 2020, hasn’t it?...Read more
  • Why now is the time to plug the unhealthy gap PROMOTED | We’ve all heard the term ‘health is wealth’...Read more

Personnel Today Jobs
 

Search Jobs

PERSONNEL TODAY

About us
Contact us
Browse all HR topics
Email newsletters
Content feeds
Cookies policy
Privacy policy
Terms and conditions

JOBS

Personnel Today Jobs
Post a job
Why advertise with us?

EVENTS & PRODUCTS

The Personnel Today Awards
The RAD Awards
Employee Benefits
Forum for Expatriate Management
OHW+
Whatmedia

ADVERTISING & PR

Advertising opportunities
Features list 2022

  • Facebook
  • Twitter
  • Instagram
  • Linkedin


© 2011 - 2022 DVV Media International Ltd

Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Shared parental leave
    • Redundancy
    • Maternity & Paternity
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
    • OHW Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+