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JD Sports Chairman steps down

May 31, 2022 United Kingdom
JD Sports Chairman steps down
The UK-based retailer has announced that the Executive Chairman Peter Cowgill, who has been leading the company since 2004, will stand down effective immediately
Following an ongoing review of its internal governance and controls, JD Sports decided to speed up the separation of the roles of Chair and Chief Executive Officer (CEO). As a result, Peter Cowgill will leave his role, and Helen Ashton, currently NED and Chair of the Audit & Risk Committee, will become interim Non-Executive Chair until a new name is appointed.

"The business has developed strongly under Peter's leadership into a world-leading multichannel retailer with a proven strategy and clear momentum. However, as our business has become bigger and more complex, what is clear is that our internal infrastructure, governance and controls have not developed at the same pace. As we capitalize on the great opportunities ahead of us, the Board is committed to ensuring that we have the highest standards of corporate governance and controls appropriate to a FTSE-100 company to support future growth", commented Helen Ashton, interim Chair, who joined the retailer in November 2021, having held several executive-level roles at companies such as ASOS, Lloyds Banking Group and Barclays.

The process to recruit a new Chief Executive Officer also is underway. In the meantime, Kath Smith, currently NED and Senior Independent Director, will become interim CEO. Smith has worked in the sports and outdoor industry for over 25 years in brands like adidas, Reebok and The North Face.


Image Credits: manorwalks.co.uk

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