Belfast Telegraph

Food for thought, but no food as M&S holds AGM

By Jamie Grierson

Too many sleeveless dresses, pain au chocolats and loud music were among concerns of M&S's outspoken shareholders at its typically eccentric annual meeting.

Perhaps more pressing an issue for small investors was its more austere approach to its AGM, at which the traditional sandwiches and wine were replaced by a less generous doggie bag.

But the group's loyal stakeholders, the majority of whom are well into their retirement years, still managed to take the board to task over more topical concerns such as executive pay and sliding sales.

But the group avoided a shareholder revolt as more than 95% of votes, including abstentions, backed the M&S remuneration report, despite concerns beforehand about a package that could land chief executive Marc Bolland with £6m when including bonuses and long-term incentives.

The London question-and-answer session was more subdued and orderly than in previous years.

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