MARKS & Spencer boss Marc Bolland is in line for a £2.5m pay deal – despite the retailer recording its first fall in profits in three years.
While the total package is a marked drop on the previous year’s pay of about £4.96m, it comes after a year in which the Dutchman was forced to slash his sales targets.
Mr Bolland was awarded a salary of £975,000, an annual bonus of £332,000, the same amount in deferred shares and £500,000 left over from his golden handshake after joining from supermarket Morrisons.
Shareholders will vote on the remuneration report at the firm’s annual meeting on July 10.
