M&S chief 'is in the line of fire'
Major institutional shareholders in the struggling high-street giant Marks & Spencer have warned that the chief executive, Marc Bolland, is "in the line of fire" ahead of this week's annual meeting.
Investors told The Independent on Sunday that Mr Bolland, who succeeded Sir Stuart Rose three years ago, faces a pivotal few months as he battles to restore the group's fortunes.
Tomorrow, Mr Bolland and the chairman, Robert Swannell, will try to placate shareholders following a particularly difficult few months. Pre-tax profit for the year to March tumbled 14% to £564.3m, an eight-year low that was the result of poor clothing sales, and Mr Bolland has presided over seven consecutive quarters of falling clothing and homeware sales.