Marks and Spencer bosses are meeting with their shareholders in what is likely to be a stormy meeting.
Marks and Spencer chief executive Sir Stuart Rose has received strong support from shareholders at the company's annual general meeting.
Some of the retailers' biggest shareholders are against chief executive Sir Stuart Rose also taking on the role of chairman.
More than 94% of investors voted for his reappointment.
It is thought up to 30% may abstain or vote against his re-appointment as a director in protest.
A higher number were expected to abstain or vote against his reappointment in protest at him being both chief executive and chairman.
Investors will also want to know more about the outlook for M&S after a sharp drop in sales.
Critics said combining both roles broke corporate governance rules, as one person had too much power at the firm.
Its shares fell almost 25% after Sir Stuart said last week that the company faced up to two years of difficult economic conditions that will hit its profits.
'Dangerous concentration of power'
M&S's plans to appoint Sir Stuart executive chairman, a position that combines the roles of chief executive and chairman.
A company's chief executive is in charge of the management team that runs the business on a day-to-day basis.
The chairman is in charge of the board of directors - both non-executive and executive - which is acting on behalf of shareholders to make sure the management team is serving their interest.
Holding a dual role is not unheard of, but critics say it conflicts with UK corporate governance guidelines. In Sir Stuart's case, it has proved unpopular with some shareholders.
"Combining the two roles in one person represents a dangerous concentration of power that is potentially detrimental to board balance, effective debate and board appraisal," corporate governance firm PIRC said.
'Unwelcome distraction'
But Sir Stuart defended his role to the company's investors, insisting that the board's "strong, independent and challenging" non-executive directors would keep him in check.
Supporting Sir Stuart, M&S deputy chairman Sir David Michels said: "He unquestionably has the right set of skills to take Marks and Spencer forward and to complete the job he has started.
There will be no specific vote on whether Sir Stuart should hold both posts, but PIRC has recommended shareholders vote against his re-appointment as a director to show their opposition to the move.
In a letter to shareholders in April, M&S said appointing a new chief executive in 2008 or 2009 to replace Sir Stuart "was likely to be a damaging and unwelcome distraction at precisely the time that the business needed clear leadership to sustain its recovery and transformation".
Takeover speculation
Sir Stuart was brought in to fight off a takeover attempt from the billionaire owner of Top Shop, Sir Philip Green, in 2004.
Rumours that Sir Philip might be about to try again circulated on Monday, giving a much-needed boost to M&S shares.
M&S shares closed 7% higher at 231.50 pence. Before last week's profits warning they had been trading at more than 330p.
However, Sir Philip denied reports that he had been buying up M&S shares.
