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Is Sir Stuart Rose on the brink of departing Marks & Spencer?

Oh how the mighty have fallen, with news that Sir Stuart Rose may be on the brink of a vote of no confidence by institutional shareholders. It would appear that there is a growing band of shareholders who are not happy about the fact he has the role of chairman and chief executive and the fine detail of his contract. There are serious concerns that Stuart Rose has "too much power" at Marks & Spencer which has seen the performance of the group drop markedly of late.

However, those who are criticising Sir Stuart Rose for his dual role with the company are the same people who benefited from the turnaround facilitated by Sir Stuart Rose just a few years ago. Many investors have short memories because when Sir Stuart came to the company he took the helm of a ship which was fighting to stay out of stormy waters. He managed to steady the ship, turn it around and increase profitability although the ongoing recession has effectively halted this recovery in the short to medium term.

It seems bizarre to think that Sir Stuart Rose is set to feel the wrath of institutional investors as we approach the results season but apparently the knives have been sharpened and institutional shareholders are ready to do battle. Many believe this is payback time for both Stuart Rose and the Marks & Spencer board of directors.

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