Sports Direct has failed to appoint a director on the board of home shopping business Findel, owner of football strip retailer Kitbag, after 81% of shareholders voted against the motion.
Mike Ashley-owned Sports Direct, which acquired an 18.9% share of Findel on September 19, proposed to appoint Benjamin Gardener to its board at a general meeting held today (December 21). But only 19.11% of shareholders voted in favour.
Gardener, who is managing director of intellectual property protection company International Brand Solutions, has worked for and with Sports Direct in various guises since 2004, including a four-year stint as global head of brands.
Earlier this month, Findel’s board unanimously recommended that shareholders vote against the resolution to appoint him as a non-executive director.
Shareholders Toscafund, Schroders and River & Mercantile, who have a combined 43.9% stake in Findel, agreed to vote against.