M&S defends dual role for Rose

Wed Jul 9, 2008 3:40pm BST

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LONDON (Reuters) - Landmark retailer Marks and Spencer (MKS.L) defended the dual role of its embattled boss on Wednesday, telling shareholders the board was "entirely convinced" Stuart Rose was right for the positions.

M&S infuriated some investors in March by saying that Rose would combine the roles of chairman and chief executive as part of a package that will see him stay at the company until 2011.

"He unquestionably has the right set of skills to take Marks and Spencer forward and to complete the job he has started," Deputy Chairman David Michels told investors at the retailer's annual general meeting.

Rose told shareholders the board's "strong, independent, challenging" non-executive team kept executives "on their toes".

"I fully expect to be held accountable for the actions that I take," he said.

(Reporting by Mark Potter)

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