A TRADE union yesterday described news that the boss of troubled store chain Marks and Spencer could receive a salary and bonus of more than £1.4m as a "slap in the face" for the group's workers.
Chief executive Luc Vandevelde is in line for a cash and shares bonus of £810,000 for his first year at M and S, if the group's remuneration committee is satisfied he has hit his targets, a spokeswoman said.
If awarded, the bonus will be £160,000 higher than the £650,000 award he was thought to be eligible for previously.
The news comes after the group announced plans to cut 4,400 jobs and shut its continental stores to concentrate on its British market.
The payment is higher than expected because it consists of 13 months, and not 12 months, salary.
John Edmonds, general secretary of the GMB union, said: "The prospect of Luc Vandevelde receiving over £800,000 bonus for his work at Marks and Spencer is nothing short of obscene.
"It would be a slap in the face for the workers who have been sacked as a result of M and S's bungled restructuring, as well as to Marks' loyal customers, who consistently see management running the company into the ground.
"It is just one more example of how boardroom greed is spiralling out of control."
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