JD Sports activities says not on the lookout for new CEO after succession planning report

By | June 1, 2021


June 1 (Reuters) – Britain’s JD Sports activities (JD.L) mentioned on Tuesday it was not trying to find a brand new chief govt officer or chairman, two days after a media report claimed the sportswear retailer was stepping up succession planning on account of strain from traders.

The Instances report on Saturday mentioned institutional traders have been uneasy about Peter Cowgill’s joint roles as JD Sports activities’s govt chairman and CEO over the previous a number of years.

The Instances quoted Cowgill as saying that his twin function was widespread in the US, and denying that he was planning to go away or at hand over some tasks. “I am positively not going wherever,” he advised the Instances.

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JD Sports activities’s on-line enterprise carried out properly via the pandemic, prompting the corporate to announce in April that it will resume dividends after beating analyst expectations for full-year revenue.

The corporate has launched into no less than three huge acquisitions in the US and Europe in latest months.

JD Sports activities had in January acknowledged investor issues concerning the cash-based nature of the long-term incentive plan and bonus funds for govt administrators, following its annual normal assembly the place a 3rd of shareholders voted towards the remuneration coverage.

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Reporting by Vishwadha Chander in Bengaluru; Enhancing by Ramakrishnan M.

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