JD Sports addresses speculation about leader’s future

JD Sports on Tuesday moved to quash speculation about its leader’s future, and said no search for a new chief executive or chairman is underway.

Peter Cowgill has been executive chairman of the FTSE 100 sportswear chain since 2004, and took on chief executive responsibilities also a decade later.

The retailer’s annual report last week said “additional succession planning has occurred throughout the financial year following concerns relating to the single appointment of the executive chairman”.

Weekend reports on Cowgill’s position followed, and it is more common in the City to see a separate boss and chairman.

JD Sports today said the board is “not engaged in a process to recruit a chief executive officer or chairman”.

But the company added that it is continually reviewing the depth of its management team “to ensure that the senior operational leadership team in the business has the necessary skills and experience to exploit the ongoing global development opportunities".

The firm’s capital markets day, subject to any ongoing restrictions, will take place in London on October 13.

Shares in JD Sports rose 10.2p to 955.4p.