Gap between pay rises causes concern among M&S shareholders

Shareholders at Marks & Spencer’s (M&S) annual general meeting (AGM) in July this year raised concerns over the gap between the 4.6 per cent pay increases of shop floor staff and the vast bonuses being awarded to board and senior management team members. Stuart Rose, the chief executive, received a package worth in excess of £8m.

Anthony Lytham, a private investor present at the AGM, said: “The staff are the backbone of the company, and deserve a little more.”

M&S claims it pays the top rates on the high street, and offers an integrated pay and career structure, which makes it clear to both new and existing employees their career path within the organisation.

“There will always be a gap in the rewards M&S gives senior managers and shop floor staff,” said Bella Wearnus, the company’s media spokesperson. “This year is a crucial time for the business and the priority was to retain those who could effectively lead the business through the next few years,” she added.