Some 29pc of M&S shareholders voted against M&S’s remuneration last year after departing chief executive Steve Rowe was awarded a £1.6m bonus, which more than doubled his overall pay package. However, people own their shares, they have a right to have a say and hold their boards to account”.

“Nominees make up 40pc of the market and investor platforms are growing, so unless we act, the connection between companies and private shareholders will be lost. QCA said in many cases this was because shareholders did not want to travel long distances to get to them.Īrchie Norman, chairman at M&S and a former Conservative MP, said: “We believe that shareholder democracy matters because in a free enterprise society people need to feel they are informed and have a say in the businesses they own. However, many digital platforms used to trade shares do not allow investors access to the same lines of communication because the shares are not technically held in their own name.Īt the same time, the number of shareholders attending annual company meetings has plummeted, according to recent research by the Quoted Companies Alliance (QCA), falling around 55pc in 2022. Retail investing surged in popularity during the pandemic. The supermarket has launched a pilot project to help nominee shareholders – people who own shares indirectly through trading platforms – have more of a voice in how the company is run.

Marks & Spencer has begun an effort to help retail investors vote at its AGMs in hope of boosting “shareholder democracy”, amid mounting political concern over the apparent decline of the stock market.

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