BusinessCompany NewsLane-Fox’s M&S audit role questioned

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
Voice.

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
governance rules.

Earlier this year, Sir Stuart was accused of flouting corporate governance
rules after announcing that he would become
executive
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.

Further reading:

Dyson
groomed for CEO role at M&S

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