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Sir Stuart Rose and his £2.8 million leaving present

Sir Stuart Rose, who many believe was the brains behind the recovery in Marks & Spencer, will see his salary boosted to £4.3 million after he received a £2.8 million bonus made up of shares and additional payments. It seems as though Marks & Spencer is waving goodbye to a whole host of directors who came in under the stewardship of Sir Stuart Rose as Marc Bolland seems intent on clearing the decks and bringing in his own team.

Overall there will be a £12 million bonus bonanza for Marks & Spencer directors which is around 33% up on the previous year. While there's no doubt that under the stewardship of Sir Stuart Rose there has been some friction between the Marks & Spencer's leader and institutional shareholders, he has in many ways delivered the goods. Unfortunately it seems that his determination to retain the role of chairman and chief executive was the final nail in his coffin and his career at the retail giant.

Marc Bolland joins Marks & Spencer at a very challenging time in the history of the group with the UK economy still struggling to pull free from recession and concerns about consumer spending in the short to medium term.

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