M&S's Bolland May See Bonus Hit by Retail Conditions, FT Reports - Bloomberg

Marks & Spencer Group Plc (MKS) Chief Executive Officer Marc Bolland's compensation, which could be as much as 15 million pounds this year ($24.3 million), may be limited by tough conditions in U.K. retailing, the Financial Times reported, without saying where it got the information.

Bolland's remuneration, which includes long-term incentives, cash, shares and share awards, and salary, will be revealed when the group's annual report is published in the next few days, the FT said.

Bolland's bonus could potentially be up to two and a half times his 975,000-pound salary, which would bring him about 6 million pounds, the FT said. However, the total amount set aside for staff bonuses -- 30 million pounds at the half-year stage -- indicates that bonuses are unlikely to reach the maximum level, the newspaper said, citing people familiar with the situation.

To contact the reporter on this story: Blanche Gatt in London at bgatt@bloomberg.net

To contact the editor responsible for this story: Colin Keatinge at ckeatinge@bloomberg.net.