Marks and Spencer boss Marc Bolland nets £596,000 bonus

Marks and Spencer boss Marc Bolland had to forgo his bonus last year

Marks and Spencer chief executive Marc Bolland earned more than £2m in the last fiscal year.

His salary included a £596,000 bonus, in addition to pension benefits, the company has disclosed.

In its annual report, Marks and Spencer said that because the business met its profit target, it paid bonuses across the company.

The High Street retail giant recently reported its first rise in annual profits in four years.

Last year, Mr Bolland and his executive team had to forgo bonuses, after the company's consistent drop in profits.

The chairman, Robert Swannell, said in the firm's annual report: "This year, we have seen outstanding performance in some areas of the business, but performance below our expectations in others."

He said the food business had an outstanding year, while the company's international business performance was disappointing.

Steve Rowe, the executive director of the company's food division, earned a £653,000 bonus for the year, with a total package of £1.4m.