A JD Sports logo is seen behind a store in London, Britain, November 17, 2021. Picture taken November 17, 2021. REUTERS/May James
On August 2, UK sportswear retailer JD Sports Fashion (JD.L) said on Tuesday that French businessman and former B&Q CEO Regis Schultz will become the company’s chief executive. where he will fill the first position after eight years.
The FTSE 100 group in May sacked long-time chief executive Peter Cowgill over governance and control issues. Cowgill has held the executive position and led the group since Barry Bown stepped down as CEO in 2014. read more
Schultz’s appointment comes months after JD Sports said it would speed up the separation of its chairman and chief executive officer after a review found weaknesses in the company’s management. read more
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It appointed Andrew Higginson, the former head of supermarket group Morrisons, as its new chairman last month. To see also : See how the legal sports betting ecosystem is taking shape.
Schultz, 53, is expected to start his new role at JD Sports in September and will be tasked with leading the group as it overhauls its corporate governance and audits the watchdog. on British treason.
He has been head of retail at Al-Futtaim Middle East Group since 2019 and was chief financial officer at British home improvement chain Kingfisher’s ( KGF.L ) do-it-yourself business, B&Q.
“He also provided change through innovation in many of his projects,” says JD’s Higginson.
The appointment comes a day after JD Sports sold Footasylum to German property management company Aurelius Group after the UK Securities and Exchange Commission ordered its sale last year due to competition concerns. read more
Last month JD Sports, which sells Nike, Adidas, Puma and domestic brands, said it expected 2023 profits to match last year’s performance on demand for sportswear and sportswear. read more
Shares of the company, which has lost more than 40 percent this year, were down 1.4% in morning trading.
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Amna Karimi and Radhika Anilkumar report in Bengaluru; Edited by Uttaresh.V and Jan Harvey
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