Blog: Rose faces thorny issue
Dean Best | 8 July 2009
just-food is currently in attendance at Marks and Spencer’s highly anticipated AGM, where chairman and CEO Sir Stuart Rose is expected to face his shareholder critics.
Rose has attracted disapproval from shareholders over his dual role as chairman and chief executive, a breach of UK corporate governance best practice.
M&S has argued that the company requires stability as it looks to appoint a successor to Rose.
However, many shareholders remain unconvinced and a motion, proposed by the vocal Local Authority Pension Fund, will today (8 July) seek to set a deadline of July 2010 for the appointment of a new independent chairman.
How will Sir Stuart respond to such censure?
For live notes from the AGM, check out just-food’s observations on Twitter.
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