Marks & Spencer chief executive Marc Bolland pockets £600,000 bonus after retailer's first profit rise in four years

 
Catherine Neilan
Follow Catherine
Marc Bolland had to forego his bonus last year (Source: Getty)
It's not just shareholders who will be pleased that Marks & Spencer finally returned to growth last year.
Marc Bolland has pocketed a bonus worth nearly £600,000 for the high street retailer's green shoots, which reported its first rise in profits in four years last month.
Bolland received a bonus worth £596,000 on top of a basic salary of £975,000. Combined with other benefits including pension, he received £2.1m.
Last year Bolland had to forego his bonus after failing to miss three out of the four sales targets he had set. In fact, the entire team went without. The year before he received a bonus of £829,000.
For 2014/15, however, everyone was rewarded.
John Dixon, who was brought over from food to head up the ailing general merchandise division two years ago, received £217,00 on top of his £600,000 basic, taking his total to £1.1m.
Steve Rowe, executive director of the hugely successful food division, actually got a larger bonus than Bolland at £653,000, giving him a total package worth £1.4m.
Laura Wade-Gery, who heads up multichannel – which has struggled after problems stemming from the website relaunch – was awarded a bonus worth £219,000, giving her more than £1m in total.
Meanwhile Patrick Bousquet-Chavanne, executive director of marketing and international, received £222,000 on top of his basic, taking his total to £973,000.
Alan Stewart jumped ship earlier in the year to Tesco - but he still took home more than £200,000.

Related articles