Corporate governance needs to be top priority of new Sports Direct Board


Ashley Hamilton Claxton, Head of Responsible Investment

12 September 2018

We have been advocating for changes to the board for many years, so we welcome the announcement that the Chairman and Senior Independent Director are stepping down, to be replaced by two new independent directors. We hope that putting in place strong governance controls will be the new board’s top priority. This includes improving the company’s working relationship with independent shareholders and addressing concerns about working conditions and contracts in the company’s warehouses and stores. 
We believe strong governance will help restore confidence in the company and support management’s vision to be a successful global business.

We have been advocating for changes to the board for many years, so we welcome the announcement that the Chairman and Senior Independent Director are stepping down, to be replaced by two new independent directors. We hope that putting in place strong governance controls will be the new board’s top priority. This includes improving the company’s working relationship with independent shareholders and addressing concerns about working conditions and contracts in the company’s warehouses and stores. 

We believe strong governance will help restore confidence in the company and support management’s vision to be a successful global business.

Past performance is no guide to the future. The value of investments and the income from them is not guaranteed and may go down as well as up and investors may not get back the amount originally invested. The views expressed are the author’s own and do not constitute investment advice.