Marks & Spencer chairman and chief executive, Luc Vandevelde, is not taking his much-criticised bonus payment, it was revealed today. The dapper Belgian retailer was in line for a bonus of £816,000, comprising of £704,000 this year and a further £112,000 in future years. But Mr Vandevelde has decided not to take the bonus and instead the company is issuing him with shares with a value of £352,000 in May next year.