MAN WHO SOLD MORRISONS TAKES HELM AT JD SPORTS
JD SPORTS has hired the man who sold supermarket chain Morrisons to succeed Peter Cowgill as chairman.
The troubled sportswear retailer said Andrew Higginson will take over on Monday as it seeks to beef up the board and repair its reputation.
But the appointment will spark speculation over JD’s future. Higginson, as chairman of Morrisons, oversaw its sale to private equity group Clayton, Dubilier & Rice for £7bn last year.
Cowgill stepped down in May after 18 years as executive chairman, after a review of internal governance and controls. JD was fined £4.3m by the competition watchdog for exchanging information with Footasylum, amid reports he met a counterpart from the brand JD wanted to acquire.
Former Reebok and Adidas executive Kath Smith has temporarily been made chief executive as JD reshuffles the leadership team.
Helen Ashton, interim chairman, said: ‘Andy stood out as the best candidate, with his extensive board experience, including as a chair, and his strong track record in international retail.’
Higginson said: ‘The board has clearly been addressing its governance and risk management structure, and I very much look forward to working with the board and the senior management team, including our new CEO, to bring my experience to bear.’