Marks & Spencer executive chairman Sir Stuart Rose appears to have won a vote of confidence at the retailer’s AGM over his dual role of chairman and CEO, despite significant opposition.

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A motion, presented by the Local Authority Pension Fund, called for the appointment of a new, independent chairman by July 2010. The vote was designed to highlight investor concerns over M&S’s breach of corporate governance best practice.


Excluding abstentions, 37.7% of voting shareholders were in favour while 62.3% were against.


Rose is currently due to retire from M&S in July 2011.

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