Marks & Spencer executive chairman Stuart Rose has been reappointed, despite nearly one in four shareholders refusing to lend him their support.

Some 4.9 per cent of voting shareholders were against his re-election as a director, but 17.2 per cent withheld their vote. Almost 13 per cent, including abstentions, voted against the remuneration report.

Usually, 98 per cent of shareholders vote in favour of a director's re-election.

Rose faced a shareholder revolt over his move to combine the positions of chairman and chief executive. M&S has said it is “entirely convinced” Rose was right to hold both positions. The appointment will see Rose stay at the company until 2011.

The high-street retailer last week issued a profit warning after revealing that food sales had dropped by 4.5 per cent in the past three months.

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