Marc Bolland's £15m 'golden hello' to M&S

By Sean Poulter for the Daily Mail
Updated: 09:18 BST, 2 February 2010

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The new boss of 示すs & Spencer is in for a 宝くじ-style windfall before he has 解除するd a finger.

Packing in Morrisons: Marc Bolland can 推定する／予想する big 支払う／賃金 and perks at M&S

Marc Bolland, who was headhunted from Morrisons, will receive an astonishing 'golden hello' and salary 一括 価値（がある） up to £15m in his first year.

Over five years his total remuneration in salary, 特別手当s and 株 could 量 to £36.25m.

The 50-year-old Dutchman will start on May 1 after （警官の）巡回区域，受持ち区域ing a number of 内部の and 外部の 候補者s to become 長，指導者 (n)役員／(a)執行力のある.

The 職業 has been に例えるd to the 小売 同等（の） of managing the England football team. But the 規模 of 支払う／賃金 will surprise shoppers who are 耐えるing a squeeze on their own 予算s. It could also 原因（となる） some 憤慨 の中で M&S staff and 株主s.

The board is giving Mr Bolland some £7.5m for joining as 補償（金） for 行方不明の out on さまざまな 支払い（額）s from Morrisons over the next three years.

His first year on the payroll, on a basic salary of £975,000, will bring 支払い（額）s 価値（がある） another £7.5m 加える other perks 含むing 年金 出資／貢献s, car and 医療の 利益s.

He takes over as 長，指導者 (n)役員／(a)執行力のある from Sir Stuart Rose, who 選ぶd him for the 職業 and will remain as chairman to 監督する the 移行 of 力／強力にする.

Sir Stuart collected £1.38m for the 2008-09 財政上の year after giving up the 権利 to （人命などを）奪う，主張する some £1.16m in 株 に引き続いて （民事の）告訴s from 株主s.

投資家s will want to see 決定的な 活動／戦闘 to revitalise the 商売／仕事. Its underperforming food 分割 needs particular attention.

As occurred when Bolland joined the Bradford-based grocer, he will spend several months talking to staff and methodically reviewing M&S from 最高の，を越す to 底（に届く）.

In the 合間, M&S needs to 納得させる 投資家s that Bolland's enormous 支払う／賃金 一括 was necessary.

He is 広範囲にわたって seen as an excellent choice for the M&S 職業, having 器具／実施するd a strong turnaround at Morri sons, however the size of his award has raised eyebrows.

One 投資家 source said: 'We would understand him [Bolland] 存在 補償するd for forgoing 株 awards that are just about to vest, but he is also 存在 補償するd for some which don't 支払う／賃金 out for years, which seems a little bit 過度の.'

M&S said: 'We believe it is fair and reasonable 補償（金） for a man of his experience.

'The structure of this 一括 is in line with our other (n)役員／(a)執行力のある directors'.

But Tom Powdrill, of the 株主 group PIRC, said: 'We are …に反対するd to this sort of golden hello.

'It distorts the market for (n)役員／(a)執行力のあるs, and 補償するing directors for the loss of 特別手当s and incentives at their previous company makes a mockery of the idea that the already high levels of remuneration 行為／法令／行動する to 保持する 重要な people.'

Mr Bolland's 支払う／賃金 一括 dwarfs last year's 収入s by Sir Terry Leahy, 長，指導者 (n)役員／(a)執行力のある of Tesco, and Justin King, 長，率いる of Sainsbury's, who both received about £5m.

The last time that M&S, a quintessentially British company, 選ぶd for foreign leadership, the 実験 ended in 涙／ほころびs.

ベルギー Luc Vandevelde left his 地位，任命する as chairman after four years in which he collected an 概算の £15m. His 政権, which ended in 2004, was renowned for axing British 供給者s and moving the 製造（する） of fashions overseas.

M&S defended the 支払い（額）s 存在 申し込む／申し出d to Mr Bolland, who has 比較して little experience in 小売ing and earned £1.7m at Morrisons last year, 含むing an £804,000 base salary.

Sir Stuart made （疑いを）晴らす his 後継者 would have carte blanche to make changes, 説: 'He will have 絶対の 支配（する）／統制する over the 商売／仕事 from the day he starts.'

FACE IN THE NEWS

Marc Bolland (権利) is 都市の, charming, 選び出す／独身, enjoys 狙撃 and 運動s a 1967 Aston ツバメ DBS. There the comparisons with James 社債 come to a end.

For the Dutchman likes nothing better than a 静かな night in.

And while the man he 取って代わるs, Sir Stuart Rose, loves to rub shoulders with A-名簿（に載せる）／表（にあげる） celebrities at the Ivy, Bolland was better known at Morrisons for 扱う／治療するing staff to a bucket of KFC.

Known as a micro-managing 詳細（に述べる）s man, he would wander the shop 床に打ち倒す 選ぶing up litter and would 配列し直す 陳列する，発揮するs.

He has never had a 伝統的な PA, making his own phone calls, and does not （人命などを）奪う，主張する expenses because he believes he earns enough already.

Bolland started as a 管理／経営 訓練生 at the brewer Heineken, becoming 長，指導者 operating officer before leaving Amsterdam for Bradford and Morrisons.

During his 任期, Morrisons put on an extra half a million 顧客s and 利益（をあげる）s almost 二塁打d.

News of his move wiped £387m off the market value of Morrisons and 追加するd £342m to M&S.