Wednesday, 14 July 2010

M&S vote

An easy win for M&S today, with a combined oppose and abstain of about 16% (equally split). That's above the norm for the season to date, with an average vote against rem reports of about 6%, with 3% in abstentions. But it's not a major revolt by any means. Clearly some investors backed the remuneration policy because they were happy with Marc Bolland's appointment and that was more important than concerns about golden hellos and/or buying out long-term incentives at the existing employer.

Ho hum.

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