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Marks & Spencer CEO claims glittering prize after seeing off raider.
Knight Ridder/Tribune Business News, July, 2004
By Ruth Sunderland, Daily Mail, London Knight Ridder/Tribune Business News
Jul. 21--Marks & Spencer has awarded new boss Stuart Rose nearly 1 million share options as part of a "golden hello" only days after it foiled a bid approach from Philip Green.
Rose's options are worth UKpound 3.4 million at the grant price of 347 pence. The self-styled saviour of Marks also spent nearly UKpound 575,000 of his UKpound 20 million-plus personal fortune buying shares, quelling criticisms that he was not putting his money where his mouth is.
He now holds 300,416 shares worth over UKpound 1m, including his controversial purchase of 100,000 at 276 1/2 pence in the run-up to Green's bid. He has a profit of UKpound 67,500 on those shares at last...
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