Jun 14, 2021

JD Sports chairman rejects criticism of £4.3m bonus

Peter Cowgill told the BBC that the "Lion's share" of the £4.3m bonus related to work done pre-January 2019. Mr Cowgill told the BBC's World at One programme that the pay boost in 2020 resulted from a long-term incentive share plan, and that he had received only one payout from the scheme in the past eight years. Mr Cowgill said the firm had correctly used the furlough scheme to support jobs, and should not volunteer to pay it back as rivals Primark and Asos have done. "Mr Cowgill said it was possible investors might vote against his pay package, but added:"Why would you when the company has progressed, it's provided increasing levels of employment throughout? At the same time, the chain saw its revenues rise in 0.9% last year to £6.1bn as its sales shifted online, although its pre-tax profits fell 7%. Mr Cowgill's bonus was agreed in January 2019 and several instalments were deferred due to the pandemic, then subsequently paid.

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