JD Sports Fashion (JD.)

Sector:

Retailers

Index:

FTSE 100

134.50p
   
  • Change Today:
      18.20p
  • 52 Week High: 177.75
  • 52 Week Low: 104.00
  • Currency: UK Pounds
  • Shares Issued: 5,183m
  • Volume: 55,138,272
  • Market Cap: £6,971m
  • RiskGrade: 210

JD Sports boss quits with immediate effect

By Abigail Townsend

Date: Thursday 26 May 2022

LONDON (ShareCast) - (Sharecast News) - Shares in JD Sports Fashion came under pressure on Thursday after executive chair Peter Cowgill quit following a review of the retailer's internal governance.
The fast-growing group said it had decided to accelerate the separation of the roles of chair and chief executive as a consequence of the review, with Cowgill - who has led JD Sports since 2004 - stepping down with immediate effect.

It was widely reported that Cowgill, 69, had resisted moves by the board to split the roles, despite the company expanding significantly in recent years. Cowgill has held both roles since then chief executive Barry Bown left in 2014.

Kath Smith, senior independent director and interim chief executive, said: "The business has developed strongly under Peter's leadership into a world-leading, multi-channel 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 capitalise 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."

Pentland, JD Sports' majority shareholder, said it was "the right time for the business to fulfil its future ambitions under a new governance structure and new leadership".

The stock fell sharply following the announcement, made towards the end of trading on Wednesday, and declined further as trading resumed on Thursday. By 0900 BST, however, the shares had regained some ground, and were trading just under 1% higher at 112.95p.

Last year JD Sports faced a shareholder a revolt after it emerged Cowgill - who joined the business as finance director in 1996 - had been paid nearly £6m in bonuses despite the retailer accepting around £100m in government support.

And earlier this year JD Sports and takeover target Footasylum were fined nearly £5m by the Competition and Markets Authority for sharing commercially sensitive information after the regulator had blocked their merger.

Helen Ashton, former finance director of Lloyds Banking Group and the chair of JD Sports' audit and risk committee, will become acting non-executive chair. A search for a permanent chief executive and chair is underway.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

JD. Market Data

Currency UK Pounds
Share Price 134.50p
Change Today 18.20p
% Change 15.65 %
52 Week High 177.75
52 Week Low 104.00
Volume 55,138,272
Shares Issued 5,183m
Market Cap £6,971m
RiskGrade 210

JD. Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
61.64% below the market average61.64% below the market average61.64% below the market average61.64% below the market average61.64% below the market average
52.63% below the sector average52.63% below the sector average52.63% below the sector average52.63% below the sector average52.63% below the sector average
Price Trend
25.6% below the market average25.6% below the market average25.6% below the market average25.6% below the market average25.6% below the market average
17.07% below the sector average17.07% below the sector average17.07% below the sector average17.07% below the sector average17.07% below the sector average
Income
58.39% below the market average58.39% below the market average58.39% below the market average58.39% below the market average58.39% below the market average
66.67% below the sector average66.67% below the sector average66.67% below the sector average66.67% below the sector average66.67% below the sector average
Growth
0.21% above the market average0.21% above the market average0.21% above the market average0.21% above the market average0.21% above the market average
30.00% above the sector average30.00% above the sector average30.00% above the sector average30.00% above the sector average30.00% above the sector average

What The Brokers Say

Strong Buy 5
Buy 5
Neutral 3
Sell 1
Strong Sell 0
Total 14
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

JD. Dividends

  Latest Previous
  Interim Final
Ex-Div 07-Dec-23 06-Jul-23
Paid 05-Jan-24 04-Aug-23
Amount 0.30p 0.67p

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 4,335 @ 134.50p
16:35 6,621 @ 134.50p
16:35 19,585,570 @ 134.50p
16:35 2 @ 134.50p
16:35 40,017 @ 134.50p

JD. Key Personnel

CEO Regis Schultz
CFO Dominic Platt

Top of Page