9 Jul 2012 07:11
JJB Sports Plc
Board Appointment
9 July 2012
JJB Sports Plc ("JJB" or the "Group") today announces the appointment of Robert J. Corliss to the board of directors.
Bob joins the board as Deputy Chairman with particular responsibility for further accelerating the turnaround of the business. Following a short handover he will become Chairman with effect from 1 September 2012 succeeding Mike McTighe. Mike will step down from the board after 20 intense months as Chairman during which time he has led the company through a significant restructuring of its cost base, a second company voluntary arrangement and three rounds of refinancing.
Bob has a 30-year track record across various industries, including notably the retail sector, and has successfully invested in and led a variety of situations including buyouts, turnarounds, divestitures, and start-ups. His experience includes roles as a Director and Executive Committee Member of the National Retail Federation (NRF), a Director of The World Federation of the Sporting Goods Industry, Chairman of the Committee of International Sports Organizations and a Director of both the American Running Association and the Sporting Goods Manufacturers Association.
Currently he is the President and CEO of Robert Talbott, Inc. and trustee for Movie Gallery, Inc. Earlier, he served as Vice President and CEO of Friedman's Jewelers and as the Chairman of the NRF. From 1998 until 2007, he was President and Chief Executive Officer of The Athlete's Foot, the world's largest franchisor of athletic footwear with over 600 stores in more than 40 countries. Prior to joining The Athlete's Foot, he was the founder, CEO/President of Infinity Sports, Inc., a manufacturer, distributor and licensor of athletic products primarily under the brand Bike Athletic. His earlier experience includes leading, as President and CEO, the successful turnaround and eventual sale of Herman's Sporting Goods, Inc.
Commenting on the appointment Mike McTighe, Chairman of JJB Sports, said:
"I am excited that we have attracted someone of Bob's calibre and experience to lead the company through the next phase of its turnaround. His deep US and European sports retailing background is exactly what we require right now."
Commenting on his appointment Bob Corliss said:
"JJB has been through some difficult times yet it is clear that there is a real market opportunity for a national authentic sports retailer here in the UK. JJB can be that retailer and I'm energized by the prospect of leading the company through the next phase of its turnaround."
For further information, please contact:
Keith Jones
Dave Williams
JJB Sports plc
01942 221400
Neil Bennett
Daniel Yea
Maitland
020 7379 5151
Heraclis Economides
Richard Thomas
Numis Securities
020 7260 1000
A copy of this press release can also be viewed on the JJB Sports plc corporate website, www.jjbcorporate.co.uk.
About JJB
JJB Sports plc (JJB: LSE) is one of the UK's leading sports retailers. The Group is headquartered in Wigan and listed on the AIM, trades from over 180 JJB branded retail stores in the UK and Ireland and employs over 4,000 people. Further information about the Group can be found on the Group's corporate website, www.jjbcorporate.co.uk.
Information required by Rule 17 and Schedule 2 paragraph (g) of the AIM Rules for Companies
Robert J. Corliss, aged 59, has been a director of the following companies and partnerships in the previous five years:
Current:
CorlissMoore & Associates LLC (Managing Member)
Farrell Sports Concepts, Inc.
Robert Talbott, Inc.
Former:
Knights Apparel, Inc.
Movie Gallery, Inc.
Friedman's Jewelers, Inc.
Whilst he was a director at Friedman's Jewelers, Inc. and Movie Gallery, Inc., the companies entered into a compromise or arrangement with creditors. Friedman's Jewelers, a US based chain of retail jewellery stores, declared bankruptcy in January 2008 with debts of over US$150 million. Movie Gallery, a US based chain of video rental and sales stores, declared bankruptcy in April 2010 with debts of over $200 million. The Friedman's Jewelers bankruptcy has now closed and the Movie Gallery bankruptcy is expected to close within the next 12 months.
He does not currently hold any ordinary shares in JJB Sports Plc.
No further disclosures are required under Rule 17 and Schedule 2 paragraph (g) of the AIM Rules for Companies.