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.
Danone completed its US$12.5bn acquisition of WhiteWave Foods this week. The move will roughly double Danone's presence in North America, where WhiteWave is a top four dairy player. ...
Premier Foods plc revealed today (28 March) it has secured a deal with its pension scheme trustees that will see the UK food maker reduce its pension burden....
Hain Celestial, under the scrutiny of the investment community in recent months and facing some challenges in its domestic market, has announced another shuffling of its management pack....
FrieslandCampina, which today served up higher profits but lower sales for 2016, is ready to offload the last non-dairy business owned by the Dutch cooperative giant....
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