Sports Direct’s shareholders are struggling to find a suitable person or company to lead an independent review into the retailer’s working conditions and corporate governance, it has been reported.
Sports Direct committed to the review after listening to shareholder feedback at the company’s annual general meeting in September.
The retailer originally wanted to appoint law firm Reynolds Porter Chamberlain (PRC) to lead the review. However, shareholders complained PRC was not independent, as it has worked with Sports Direct’s founder and now chief executive Mike Ashley in the past.
The Investor Forum, which represented shareholders in talks with Sports Direct, said another law firm or individual should be tasked with leading the investigation, but as of yet no one has been appointed, The Guardian reports.
The inquiry must be carried out before a second vote to re-elect the company’s chairman, Keith Helawell, which is due to take place in January.
Drapers has contacted Sports Direct for a comment.