REG - JD Sports Fashion - Corporate Governance Review and Directorate Change

JD Sports FashionAnnouncement

25/05/2022 16:30

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RNS Number : 8200M  JD Sports Fashion Plc  25 May 2022

25 May 2022

JD Sports Fashion Plc

Corporate Governance Review and Directorate Change

JD Sports Fashion Plc ('JD' or the 'Group'), the leading retailer of sports,
fashion and outdoor brands, today announces that as a consequence of an
ongoing review of its internal governance and controls it has decided to
accelerate the separation of the roles of Chair and Chief Executive Officer.

As a result

·    Peter Cowgill, currently Executive Chairman, will step down from his
role with immediate effect.

·    Helen Ashton, currently NED and Chair of the Audit & Risk
Committee, will become interim Non-Executive Chair. Helen joined the Board in
November 2021 and has held a wide range of executive level roles including at
ASOS, Lloyds Banking Group and Barclays, and CEO positions in high-growth
private businesses.

·    Kath Smith, currently NED and Senior Independent Director, will
become interim CEO.  Kath has considerable sports and outdoor industry
experience having worked for over 25 years in the sector as Managing Director
of the adidas and Reebok brands and her previous position prior to joining the
Board was GM and Vice President of The North Face EMEA. Kath will work closely
with the senior leadership team to continue to deliver on the Group's proven
and successful strategy.

·    The process to recruit a Chief Executive Officer remains ongoing and
a process will now commence to recruit a new Non-Executive Chair.

 

Helen Ashton, interim Chair, 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."

 

The information in this release has been determined to be inside information
and Helen Ashton is responsible for issuing.

Enquiries:

 

JD Sports Fashion
Plc
Tel: 0161 767 1000

Helen Ashton

Neil Greenhalgh

 

Investec - Broker to the
company
Tel: 020 7597 4000

David Flin

 

Peel Hunt - Broker to the company
                                Tel: 020 7418
8900

Dan Webster

 

Finsbury Glover
Hering
Tel: 020 7251 3801

Rollo
Head

Jenny Davey

James Thompson

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