Marks & Spencer boss sees pay shrink

Marks & Spencer boss Stuart Rose saw his annual pay package shrink by nearly £1m (€1.25m) after the retail giant failed to hit annual performance targets, it was disclosed today.

The chain reported last month that its profits topped £1bn (€1.25m) for the first time in a decade, but Rose received no extra cash bonus on top of his £1.13m (€1.4m) salary as earnings fell short of internal goals.