Reuters first to highlight M&S chairman share sale as CEO woos City

Reuters was the first news organization to highlight on Nov 10 that Stuart Rose, the high profile chairman of Marks & Spencer, sold a large tranche of shares in the British retailer on the same day new chief executive Marc Bolland was laying out his long awaited strategic review to investors and the media – hardly a ringing endorsement of his successor’s strategy. Shares in M&S closed down nearly 3 percent, having been down 1.9 percent when the Reuters story was published. Bloomberg and Dow Jones were unsighted and the story was matched by the London Evening Standard, Daily Mail, Financial Times, The Daily Telegraph, The Times and The Guardian. Rose`s divestment was mentioned in morning notes from brokers Panmure Gordon and Arden Partners.