RE: Seemingly24 Apr 2026 08:44
I just found the FT article on JD Sports. JD Sports share price to sink lower on this news. All is definately not well at JD Sports at the moment IMO.
FT Article below:
'Andy Higginson quit as chair of JD Sports this week after pushing for chief executive Régis Schultz to be ousted and failing to win unanimous backing for the move from the FTSE 100 retailer’s board.
Higginson made representations to members of the board that Schultz should be replaced as JD chief after a three-and-a-half-year tenure in which the sportswear business has reported slowing sales and struggled in its key North American market, according to four people familiar with the matter.
While some directors agreed with Higginson, it was not a unanimously held view, the people added.
Majority shareholder Pentland, the family-owned sportswear business that owns a 54.9 per cent stake in JD Sports, indicated that it would continue to back the chief executive.
After Higginson failed to win unanimous backing there was a “mutual decision” that he would have to be the one to leave, according to another person close to the situation.
“It’s natural for a board to have discussions about the right leadership, particularly in a tough trading environment, but there was not a binary decision,” said one of the people.
JD Sports announced Higginson’s shock departure in a statement on Wednesday, including comments from Schultz thanking him for his “support and counsel”.
The company told the FT: “It was mutually agreed between Andy and the board that this is the right time for a change of chair; there has been no disagreement about the board’s continued support for the CEO. The board is grateful for the valuable role that Andy has played during his tenure at the business.”
Higginson, a retail veteran who was an executive at Tesco and subsequently chaired its rival Morrisons, will leave JD Sports after its annual meeting in July, only four years after he joined.
Shares in JD Sports fell by 4 per cent on Wednesday after Higginson’s departure was announced.
The retailer’s like-for-like sales fell by 2.1 per cent in the 48 weeks to January 3 and operating profits dropped by 8.2 per cent to £369mn in the six months to August. JD Sports has also been hit by the struggles of key supplier Nike.
JD Sports is also facing questions about succession planning for Schultz following the exit of Mike Armstrong, its former global managing director, who left in January.
Darren Shapland, currently a non-executive director on JD’s board, is stepping up to interim chair following the annual meeting.Â
Higginson declined to comment.'
Sign In
Follow the stocks
