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Sports Direct chairman survives shareholder vote

Sports Direct chairman Keith Hellawell will continue in his role after surviving a shareholder vote at the company’s annual general meeting (AGM) today.

Hellawell gained the support of 87.6% of all shareholders. Independent shareholders voted 53.2% in favour of his re-election.

A majority of Sports Direct’s independent shareholders voted against re-electing Hellawell at the retailer’s last AGM in September 2016, amid growing concerns about the retailer’s trading and governance, as well as the treatment of workers at its Shirebrook warehouse.

Hellawell offered to resign, but was persuaded to stay “to assist with making further improvements”.

However, he vowed to step down if he did not win the support of the majority of independent shareholders at this year’s AGM.

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