Blog: Another testing AGM for Sir Stuart
Joe Ayling | 8 July 2009
Today (8 July) just-style is reporting from the AGM of clothing giant Marks and Spencer in London, whose boss Sir Stuart Rose is under the spotlight for a second year running.
Sir Stuart was last year elected executive chairman of the retailer, in addition to his ongoing chief executive duties.
Some shareholders contested the dual role at the time, saying it was against corporate governance best practice, and Sir Stuart faces their concerns once again a year later.
The Local Authority Pension Fund Forum (LAPFF) will today table a resolution calling for the chairman and chief executive roles to be split, according to the Press Association. They, along with some other shareholder groups, want to see an independent chairman at M&S before Sir Stuart's July 2011 succession.
Whether the resolution is passed, however, is another matter given M&S' return to quarterly sales growth last week. The company is not immune from the effects of the UK recession though, and like-for-like sales decreased 1.4% for the period.
Sir Stuart will need support from his closest allies, along with some clever soundbites, as he prepares for another testing AGM.
By Joe Ayling, news editor.
Fresh from their disappointment at seeing the Trans-Pacific Partnership (TPP) free trade deal abandoned last month with an executive order by President Donald Trump, the US apparel and footwear sector...
With the ultimate aim of ensuring all the cotton in its products is sourced sustainably, value clothing retailer Primark is adamant that having a business model focused on offering the lowest prices o...
Last week we marked the inauguration of Donald Trump as the 45th president of the United States by taking a closer look at what's at stake for the textile and apparel trade – especially his promises t...
Continuing our look at what lies ahead for the apparel industry and its supply chain in 2017, the panel of industry experts consulted by just-style last week tackled likely shifts in the sourcing land...
- China leads US apparel sources with falling prices
- Hard hit Turkish industry is not knocked out
- Vietnam grows share of US apparel imports in 2016
- "Power of the many" drives change at Otto Group
- US apparel sector braces for potential cost hikes
- US Q4 in brief – Foot Locker, Nordstrom, Carter's
- Bangladesh crackdown has cost garment sector $100m
- Adidas and Burberry recognised for sustainability
- Inditex and H&M boycott Dhaka Apparel Summit
- Macy's will "do the right thing", says Lundgren
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective
- Technical textile markets: product developments and innovations, December 2016
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Global market review of lingerie – forecasts to 2022