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Shareholders set to renew battle with Stuart Rose

Stuart Rose, the chairman of Marks & Spencer, has again attracted the wrath of institutional shareholders who are now demanding that his £1.13 million basic salary is reduced after he hands over day-to-day control to new chief executive Marc Bolland. It is this mixture of reduced responsibility for Stuart Rose and the £15 million package which attracted Marc Bolland to the group which has caught the attention of many shareholders. However, if shareholders push for a reduction in Stuart Rose's salary there may be further repercussions.

While there has been no official comment from Stuart Rose himself, many investors believe that if his salary is reduced then he could leave his position with the group prior to his current deadline of July 2011. Even though Stuart Rose has been well rewarded for his endeavours at Marks & Spencer there is no doubt that he has saved the group which was in a terrible situation when he first joined. This is the man who took a number of very unpopular decisions in the short term which have ultimately pushed the company back on to a growth track, something which many investors appear to have forgotten.

His salary and his influence over the group has always been a bone of contention for shareholders but if you judge the man on results alone there is no doubt he has had a major impact on the performance of Marks & Spencer, especially after the dark days just a few years ago.

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