It should not be so difficult to understand or, especially in this case, to put into practice.
The roles of Chairman and Chief Executive should be held by two different persons. Simple really!
Especially in this case where M&S has just announced unexpected negative results, with a resulting hit on the share price, the superficial had an excuse.
Too many shareholders are failing in their responsabilities.
Bad news for good governance!
Onésimo Alvarez-Moro
See article:
Marks and Spencer executive chairman Sir Stuart Rose has won a shareholder vote to reappointment him, even though 22% of investors did not back him.
The level of opposition, with 6% voting against and 16% abstaining, was described as "significant" by critics.
Sir Stuart faced opposition over his role that combines the jobs of both chairman and chief executive.
Critics said combining both roles broke corporate governance rules, as one person had too much power at the firm.
See full Article.
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