M&S boss awarded reduced £2.5m pay deal

The boss of Marks & Spencer Marc Bolland has been awarded a £2.5 million pay deal despite the retailer recording its first fall in profits in three years.

While the total package is a marked reduction on the previous year's pay for Mr Bolland, which totalled around £4.96 million, it comes after a year in which the Dutchman was forced to slash his sales targets.