Marks and Spencer suffered an investor revolt at its annual meeting on Wednesday with a strong shareholder vote in favour of a resolution calling on Sir Stuart Rose to stand down early as chairman. The protest vote underlined the extent of shareholder dissatisfaction with Sir Stuart holding the roles of both chairman and chief executive, the FT said. But Sir Stuart, who shrugged off the stand-off with institutional shareholders to charm the 1,900 mainly private investors present, was defiant. “A win is a win,” he said. “It is broadly 60 per cent in favour of management.”

This entry was posted by Stacy-Marie Ishmael on Thursday, July 9th, 2009 at 4:39 and is filed under Capital markets, People. Tagged with Marks & Spencer, Sir Stuart Rose. Edit this entry.