Investors to challenge Marks & Spencer on executive pay: Report

British retailer Marks & Spencer is facing investor ire at its annual general meeting after two leading investors hit out at the group's executive pay packages, the Daily Mail reported in its Friday edition.

The Association of British Insurers has issued an amber top warning citing concerns about pay levels, while investor group Manifest has criticised new chief executive Marc Bolland's pay award as "excessive", the paper said.

Bolland sparked controversy in February when he was handed a pay package worth £15 million ($22.8 million) for joining the food and clothes group.

Marks and Spencer could not immediately be reached for comment.