Marks & Spencer executive chairman Sir Stuart Rose had a 47% increase in pay and bonuses to £2.6m last year.

He was also awarded 1.2m deferred shares in Marks & Spencer, which are worth £4.1m at yesterday’s closing price of 343p.

Rose’s remuneration has caused controversy among M&S shareholders in the past, and last year he had to give up shares worth more than £1m to avoid a dispute. He is due to retire by March next year.

Of the other executive directors, head of general merchandise Kate Bostock was paid a total of £1.6m, finance director Ian Dyson £1.5m, marketing director Steven Sharp £1.4m and director of food John Dixon £654,000.

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