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Risk Metrics asks M&S to split roles

INFLUENTIAL shareholder advisory body Risk Metrics has joined calls for Marks &amp; Spencer to split the executive chairman role held by Sir Stuart Rose in two and appoint an independent chairman.<br /><br />It added its voice to that of the Local Authority Pension Fund Forum (LAPFF), which has filed a resolution for the 8 July annual shareholder meeting calling on M&amp;S to appoint an independent chairman by July 2010.<br /><br />An LAPFF spokesman yesterday said: &ldquo;A number of leading institutions use Risk Metrics recommendations to decide on how to vote. It shows the LAPFF view is widely held.&rdquo;<br /><br />Rose on Monday waived his entitlement to more than &pound;1m in shares in a bid to appease shareholders.