Most business analysts agree that Sir Stuart Rose has done a pretty good job as the boss of Marks & Spencer these last five years – even if their sales have understandably taken a hit recently.
But a Labour councillor in Bradford, Cllr Ian Greenwood, is quoted today complaining about Sir Stuart being both Chairman and Chief Executive. Cllr Greenwood apparently speaks for the Local Authority Pension Fund Forum, which owns between 1% and 2% of the company. He says Sir Stuart combined role is a breach of "widely-accepted best practice."
I would have thought more relevant is whether Sir Stuart is doing a good job. If he is then how does this sniping help the value of the Local Authority Pension Fund?