Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Sports Direct board faces shareholder revolt

Sports Direct chairman Keith Hellawell could face calls to step down from the board at an annual meeting next week over his failure to tackle bad employment practices at the retailer.

The Trade Union Share Owners (TUSO) group, the TUC, Unite and Unison have written to the top 20 investors in the company urging them to use new rules giving increased rights to minority shareholders to block Hellawell’s re-election, according to the Guardian.

The letter criticises the former chief constable’s oversight of the collapse of part of USC, where 200 workers were laid off at the start of this year with just 15 minutes notice.

It also notes the thousands of workers on controversial zero-hours contracts.

The Institute of Directors previously warned that Sports Direct’s board was “dysfunctional” and does not provide a sufficient check on Ashley’s powers.

New rules from the Financial Conduct Authority means that Sports Direct executive deputy chairman, Mike Ashley, who owns a 55% stake in the company he founded, can be challenged by other investors.

It follows the news that Sports Direct bought a 25% share in brand agency Four Marketing, as revealed by Drapers yesterday (September 2.)

Readers' comments (1)

  • The board IS dysfunctional and doesn't care about employees rights. We all bang on about ethical trading within the supply chain, but what about the retail employees? This company needs a large new broom

    Unsuitable or offensive? Report this comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.