€1.88m signing-on fee for new M&S boss

The new boss of Marks & Spencer is to receive a bumper pay package for masterminding the retailer’s response to a potential £10bn (€15bn) takeover by billionaire Philip Green.

Stuart Rose will receive £1.25m (€1.88m) for agreeing to join the group and is in line to double his annual salary of £850,000 (€1.27m) if he hits all performance targets.