Sep 6, 2017

Sports Direct chairman Keith Hellawell faces investor revolt

Sports Direct chairman Keith Hellawell faces a rebellion from independent shareholders at the retailer's annual general meeting. His re-election has become "a lightning rod" for shareholders' concerns about the business, Mr Lee told the BBC. Other investors, Hermes and Fidelity, have also indicated they will vote against Mr Hellawell. Mr Lee said the chairman had "Become a symbol of wider corporate governance concerns" at Sports Direct. Mr Hellawell, a former chief constable of West Yorkshire and government drugs tsar, survived a revolt by independent shareholders in January to remain in his post. Although almost 54% of independent shareholders voted against his re-appointment, Mr Hellawell was backed by Mr Ashley.

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