Despite indications over the last few days that Sir Stuart Rose was happy to take a back seat at Marks & Spencer upon the appointment of Marc Borland as chief executive, it now appears as though the chairman wants remain in an executive position until at least Christmas time. It is believed he favours introducing the new chief executive to the company on a gradual basis and intends to remain at the helm for some months to come.

It is strange that this particular strategy has been released into the public domain just days after some shareholders questioned his £1.1 million annual remuneration package which shareholders were looking to reduce if he went "part-time". Sir Stuart Rose has never been a favourite of the institutional shareholders in Marks & Spencer although the truth is he took on a company which was under major pressure and he effectively turned it around and brought it back into the modern retail arena.

It is more Sir Stuart Rose's attitude to institutional shareholders which has angered them and his determination to remain hands-on in many different areas of the company. He is likely to leave in early 2011 although nothing is ever certain with this fiercely determined retail magnate.

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