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Marks and Spencer at 426p ‘ex’ a finance director. What does it mean?

By Robert Sutherland Smith | Friday 11 July 2014


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Two days ago I gave my opinion on Marks & Spencer (MKS) shares. Today its Finance Director announced that he is off to Tesco (TSCO). This is an understandable move for the man in question, Alan Stewart, and for Tesco where ‘every little helps’. Although, judging by Mr Stewart’s hefty salary increase to £750,000, plus a ‘golden hello’ worth a reported £1.73 million, his contribution is expected to be more than a little. 


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