By Sabela Ojea
JD Sports Fashion PLC said Friday that it has been appointed Andrew Higginson as its chairman after the former executive chairman and chief executive, Peter Cowgill, was ousted by the group following an internal governance review.
The UK clothing retailer said that the appointment of Mr. Higginson will be effective on July 11.
On May 25 JD Sports said it had decided to accelerate the separation of the roles of chair and chief executive officer and that Mr. Cowgill was stepping down from his role with immediate effect.
Helen Ashton and Kath Smith are currently working as the company’s interim nonexecutive chairwoman and interim chief executive officer, respectively.
“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,” JD Sports interim chairwoman Ms. Ashton said in May.
JD Sports is expected to announce the appointment of a new CEO over the summer, according to analysts.
Shares at 0932 GMT were up 2.85 pence, or 2.4%, at 125.15 pence.
Write to Sabela Ojea at [email protected]; @sabelaojeaguix