JD Sports named Andrew Higginson, former Chair of supermarkets group Morrisons, as chairperson, replacing Peter Cowgill, ousted in May.
Cowgill left his role as the company reviewed “internal governance and controls” and looked to separate the chair and CEO roles. JD Sports continues to seek a new CEO.
Higginson’s appointment is effective July 11.
Higginson, past chairman of Morrisons when private-equity firm CD&R took over the company last year, has held senior roles for nearly 15 years at Britain’s largest supermarket chain Tesco. He is also currently the senior independent director at Flutter Entertainment plc.
Commenting on the appointment, Helen Ashton, interim Chair, said: “The Board was impressed with the high-quality candidates we met throughout the recruitment process. However, Andy stood out as the best candidate with his extensive board experience as a Chair and his strong track record in the international retail sector. It is a testament to the quality and attractiveness of JD that we have recruited Andy to the important role of Chair. JD is a great business with a clear strategy, occupying a unique place in the market, and we look forward to working with him on our global development opportunities.”
Higginson added: “Having closely followed JD’s success over the years, I see it as an exceptional business with a strong strategic position. The Board has clearly been addressing its governance and risk management structure, and I very much look forward to working with the Board and the senior management team, including our new CEO, once appointed, to bring my experience to bear and capitalize on the strength of the brands, market positions and channels to market including the global retail store network.”
Subject to investigations by Britain’s antitrust watchdog, JD Sports had laid out plans to overhaul its corporate governance structure and internal controls last month and stressed the need for a more experienced board.
Photo courtesy Reuters
