1st Jun 2021 10:16
(Alliance News) - JD Sports Fashion PLC on Tuesday said it is not seeking out a new chief executive officer or chair.
Manchester-based retailer responded to a media report about the position of Executive Chair & Chief Executive Peter Cowgill. The Times newspaper said the blue-chip retailer has stepped up succession planning for Cowgill, after coming under pressure from institutional investors. Cowgill has been executive chair of JD since 2004 and assumed CEO responsibilities in 2014.
However, the Times said investors are becoming increasingly concerned about Cowgill's joint roles, which flout usual corporate governance standards.
"JD can confirm to both investors and to its international brand partners that the board is not engaged in a process to recruit a chief executive officer or chairman. JD can also confirm that it is continually reviewing the depth of its management team to ensure that the senior operational leadership team in the business has the necessary skills and experience to exploit the ongoing global development opportunities," the company said.
JD Sports said it will hold a capital markets day in London on October 13.
JD Sports shares were trading up 1.3% at 957.20 pence each in London on Tuesday morning.
By Scarlett Butler; [email protected]
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