Overview

• Stuart Machin’s total remuneration reached £7.1m in the year to March 2025, up 39% from the previous year.
• £4.6m of his package comprises deferred long-term bonuses tied to future share performance and £1.6m is an annual performance bonus.
• The cyber attack on M&S’s IT systems over Easter has halted online orders and prompted a share price slump, with the breach expected to cost £300m.
• Hackers from the Scattered Spider group stole customer data, prompting M&S’s remuneration committee to revisit executive pay targets.
• M&S plans to partially restore online trading within two to three weeks, with chairman Archie Norman calling the breach a “bump in the road.”