Sep 12, 2018

Sports Direct chair in sudden exit

Keith Hellawell, the chairman of Sports Direct, is to retire from the company later. The sudden announcement was made as the company prepared to hold its annual general meeting of shareholders. The company, founded by Mike Ashley, said Mr Hellawell, who had been on the board since 2009, would retire at the end of Wednesday's AGM. He will be replaced by non-executive director David Daly, who was appointed to the board last year. Mr Hellawell said: "Having overseen significant improvements in the working practices and corporate governance of the company, which includes a refresh of the board, now is the right time for me to step aside". "I have every confidence that the group will continue to go from strength to strength. I have enjoyed the challenges of Sports Direct and the support of Mike Ashley, many major investors, members of the board and senior staff, and wish them much success for the future."

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