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Retail

Former Morrisons And Tesco Exec Higginson Appointed JD Sports Chair

The former chairman of supermarket group Morrisons, Andrew Higginson, has been appointed chairman of sportswear retailer JD Sports, replacing Peter Cowgill, who was ousted in May.

Higginson was the chairman of Morrisons at the time of its take-over by private-equity firm CD&R last year, a period in which he 'oversaw a major turnaround of the business and significant value realisation for shareholders', according to JD Sports.

He also held a variety of senior roles across a 15-year period at Britain's no.1 supermarket chain, Tesco.

He will start his new role at JD Sports on Monday.

'An Exceptional Business'

Commenting on his appointment, Higginson said, "Having closely followed JD's success over the years, I see it as an exceptional business, with a strong strategic position.

"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 once appointed, to bring my experience to bear and capitalise on the strength of the brands, market positions and channels to market including the global retail store network."

Former Chairman Ousted

JD Sports ousted longstanding executive chairman Cowgill due to issues with internal governance and controls. Cowgill managed the group ever since Barry Bown stepped down as the chief executive officer in 2014. Read full story

Subject to several investigations by Britain's antitrust watchdog, JD Sports had laid out plans last month to overhaul its corporate governance structure and internal controls and stressed on the need for a more experienced board.

The FTSE-100 group, which last year split the roles of chairman and chief executive officer, is yet to appoint a CEO.

News by Reuters, edited by ESM – your source for the latest retail news. Click subscribe to sign up to ESM: European Supermarket Magazine.

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