Nov 8, 2021
JD Sports defends car-park meeting
JD Sports has hit back against weekend reports of a car-park meeting between its executive chair Peter Cowgill and the boss of Footasylum, a competitor that JD Sports bought in 2019 but has been blocked from integrating by the competition watchdog. JD "Totally refuted" any suggestion of governance breaches, though it has already committed to taking a number of governance measures including dividing the roles of chair and chief executive by the time of its next annual shareholder meeting. The group is selling its 80 per cent stake in BHP Mitsui Coal to Stanmore Resources, with the remaining 20 per cent held by Mitsui of Japan. Statar Capital, which has around $2bn in assets under management and is headed by former Citadel and DE Shaw trader Ron Ozer, gained 23.5 per cent last month. At Richemont Dan Loeb's hedge fund will have to contend with powerful chair Johann Rupert, who controls 50 per cent of the voting rights through a dual-share structure.
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