£15million golden hello for new M&S boss Marc Bolland...

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Did anyone else see this, and think that in the current recessionary environment, post-MP expenses scandal etc this is rather foolish of M&S to agree to so much?

I know he's not a public servant or anything, but it just screams greed and excess doesn't it?

Certainly makes me think twice about whether I want to spend my hard-earned ££ at M&S when I see their management decision-making on this....

They'll be whinging they're takings are down soon enough... prats

There's NO WAY someone needs that much of a "hello" package - wtf is that anyway? isn't he happy with his (assuming high) wages?

The 'hello' package is basically a bribe to get him to agree to leave his last job and forgoe any bonuses etc he would have received. I think the £15 million is the total he will receive in the first year.

See here

Well, it's an obscene amount of money but.. given it's not public money it shouldn't really concern anyone and i certainly can't see a reason for people to stop shopping there.

No I agree, it's not public money, but the 'cost' of it will be reflected back to the consumer in the end through higher prices.

I just think some of these guys are setting themselves up for ridicule in the same way as the "greedy bankers" were, and it could all backfire on them in the future.

It's about the 'brand image' isn't it?

(apparently he's single too... )

Seeing the amount each companies share-prices dropped/rised on the announcement of his switch it would appear he's worth every penny already.
And I've always hated this notion of an "obscene" amount of money when dealing with private businesses (especially when the moral majority get up in arms about footballers wages), they get paid what the market dictates.