Jan 5, 2017
Sports Direct faces revolt over vote to keep Hellawell
At the company's September 2016 annual general meeting, more than half of the independent shareholders voted against Mr Hellawell after media reports and a parliamentary committee lambasted the company over conditions for people working at the company's main warehouse and over corporate governance. The 74-year-old, who has been Sports Direct chairman since 2009, said he would step down at the 2017 AGM if he had failed to win over shareholders' approval by then. New rules to empower shareholders mean Mr Hellawell is obliged to face a second vote now before he is confirmed in the chairman's role. One of the company's investors, Aberdeen Asset Management has already said it will continue to oppose Mr Hellawell in the role, despite moves by the company to address the criticism levelled at it last year. Over the past year Sports Direct has faced a barrage of criticism over its financial performance, corporate governance and conditions for workers at its warehouse in Shirebrook, Derbyshire.
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