Bolland's M&S move imminent
Sunday 06 December 2009
Marc Bolland looks set to join Marks and Spencer earlier in the new year than anticipated.
As The Independent on Sunday predicted a fortnight ago, the directors of supermarket group William Morrison decided he should take "gardening leave" until starting as chief executive of M&S. Just when that will be depends partly on how soon he can thrash out his leaving terms.
Bolland earned £1.7m last year and has a 12-month contract which includes some long-term incentives and around £4m of shares which he is expected to forego, "In these situations, it is normal for the recruiting company to pick up the tab for what their new man will have to give up," said one head-hunter implying a generous "golden hello".
The news helped push M&S shares through 400p – the price that Philip Green had offered to pay in 2004.
At Morrison, head-hunters MWM is searching for a chief executive. But support is said to be growing for the finance director, Richard Pennycook, to step up.
- 1 Home Office says Nigerian asylum-seeker can’t be a lesbian as she’s got children
- 2 What happens to your body when you give up sugar?
- 3 Drugs Live cannabis trial: Hash is less harmful than any other drug, expert claims
- 4 Turkish Airlines flight TK 726 crash-lands on Nepal runway amid dense fog
- 5 Apple and Google users being spied on for a decade because of 'Freak' security flaw
The City of the Monkey God: Archaeologists claim to have found city lost for 1,000 years in remote Honduran jungle
Turkish Airlines flight TK 726 crash-lands on Nepal runway amid dense fog
Japanese island overrun with cats after population explodes
London property boom built on dirty money
Becky Watts: Stepbrother and his girlfriend named locally as two arrested on suspicion of murder
Durham Free School: 'Creationism taught at' free school facing closure
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
Ukip would cut billions from Scottish budget to fund English tax cuts
End of the licence fee: BBC to back radical overhaul of how it is funded
Ukraine crisis: Top Chinese diplomat backs Putin and says West should 'abandon zero-sum mentality'
Boris Nemtsov shot dead: Outspoken Putin critic who had expressed fears for his life is killed near the Kremlin
iJobs Money & Business
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
Voluntary post, reasonable expenses reimbursed: Reach Volunteering: Would you ...
£36,000 - £40,000: Christine McCleave: Are you looking for a new opportunity a...
£15000 - £18000 per annum: Recruitment Genius: This is a great opportunity for...