M&S chief survives bid to end dual role

Stuart Rose today survived a shareholder vote designed to split his controversial dual role at the helm of Marks & Spencer.

But Rose – who is both chief executive and chairman of the retailer – did face investors’ misgivings about the firm’s management structure.

A resolution tabled at the M&S annual meeting in London today by the Local Authority Pension Fund Forum (LAPFF) did not receive sufficient votes to be recognised by the board.

Rose said the resolution had attracted less than half of the votes, adding: “The board sees this as an endorsement of its succession plans.”