Rowe sees pay slashed to £1.1m

Marks & Spencer boss Steve Rowe saw his pay slashed last year after profits plunged – but he will still walk away with £1.1 million.

Rowe, who is overseeing a store closure plan, took a 31 per cent reduction in total pay from £1.64m in 2017.

The pay cut was due to the him missing out on a profit-linked bonus, as well as the remuneration committee not permitting any payments for hitting individual objectives.