Lane-Fox's M&S audit role questioned
Lastminute.com founder's position on the audit and remuneration committees of M&S under the spotlight
Martha Lane-Fox’s NED role has been called into question after it emerged
that Stuart Rose is backing one of her ventures.
The entrepeneur came under fire from investors for her non- executive roles
at M&S because Sir Stuart Rose holds a 1.1% stake in her karaoke club Lucky
Concerns were raised that this compromised her position as an independent NED
sitting on the audit and remuneration committees and was in breach of corporate
Earlier this year, Sir Stuart was accused of flouting corporate governance
rules after announcing that he would become
chairman of the high street giant.
‘This is another example where M&S has deviated from the code and needs
to provide an explanation,’ The Association of British Insurers told AP.