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Last Updated: Friday, 8 June 2007, 08:49 GMT 09:49 UK
M&S boss Rose gets 68% pay rise
Stuart Rose
Mr Rose is credited with fending off a takeover attempt
Marks & Spencer chief executive Stuart Rose received 3.6m in salary and bonuses last year, up 68% on a year ago, the High Street chain has said.

The bumper remuneration package followed a resurgent 12 months for the firm, whose annual profits grew 28.5%.

Mr Rose saw his salary rise from 975,000 to 1.05m - and was given a 2.6m cash and shares bonus.

Under a long-term pay plan, he also stands to get the firm's maximum bonus of four times his salary - worth 4.2m.

M&S's annual report revealed that Mr Rose was in line for a further 8m in cash and shares if the firm continued to grow profits at 10% or more.

Advertising success

Mr Rose is widely credited for turning around the company's fortunes when he took over in 2004, saving M&S from a takeover by millionaire entrepreneur and Arcadia owner Sir Philip Green.

M&S made 965.2m in the year to the end of March 2007, up from 751.4m the previous year.

The improved performance was driven by stronger demand for M&S food and clothing, which was supported by an advertising campaign featuring 1960s model Twiggy, singers Myleene Klass and Bryan Ferry, and other celebrities.

Overall the company paid bonuses of about 91m - which included 1.3m to finance director Ian Dyson and head of marketing Steven Sharp.

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