UK: M&S Share Option Scheme Criticised By Watchdog
The row over remuneration paid to M&S's top executives has flared up again - this time over recommendations by corporate governance watchdog Pirc that shareholders should block the reappointment of two non-executive directors. Tony Ball and Kevin Lomax, who are both due for re-election at the annual shareholders' meeting on 11 July, are said to have approved increases to a key share option scheme without increasing performance targets. This means that M&S chairman Luc Vandevelde could pocket shares worth nearly £2m.
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