Marks & Spencer shareholders turn against Stuart Rose
Sir Stuart Rose, seen as the darling of the retail sector, is set to encounter a serious period of investor turbulence over the coming weeks and months. This is not the first time that Marks & Spencer investors have suggested that Stuart Rose has too much power at the company and too much of a free rein. However, contrary to popular corporate governance guidelines Sir Stuart Rose currently holds the position of executive chairman and chief executive, which has certainly angered many institutional shareholders.
However, it must be noted that when the company was rescued under Stuart Rose's stewardship there was a lack of criticism but now the economy has turned downwards and the retail sector is in serious trouble it would appear that attacks on Sir Stuart Rose are par for the course. On a more positive note, Marks & Spencer as a whole believes that falling consumer confidence in the UK is starting to level out albeit at a much lower level but there are signs of interest in the market.
While it is uncertain whether Sir Stuart Rose will finally agree to split his roles within the company there is no doubt the management have a very tough job on their hands trying to keep the company ahead in a very difficult market. Is Sir Stuart Rose the man to lead the company into the future?
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