×
75 831
Fashion Jobs
JCPENNEY
Asset Protection Associate - Sunrise Mall
Permanent · Citrus Heights
JCPENNEY
Asset Protection Associate - Lansing Mall
Permanent · Lansing
JCPENNEY
Asset Protection Associate - South Park Mall
Permanent · San Antonio
JCPENNEY
Sales Floor Supervisor - Crossroads Ctr
Permanent · St. Cloud
JCPENNEY
Asset Protection Associate - Chula Vista s/c
Permanent · Chula Vista
JCPENNEY
Asset Protection Associate - Augusta Mall
Permanent · Augusta
JCPENNEY
Asset Protection Associate - Aventura Mall
Permanent · Aventura
JCPENNEY
Asset Protection Associate - Aurora Mall
Permanent · Aurora
JCPENNEY
Sales Floor Supervisor - Eastgate Mall
Permanent · Cincinnati
JCPENNEY
Asset Protection Associate - Mall Saint Matthews
Permanent · Louisville
JCPENNEY
Asset Protection Associate - West Ridge Mall
Permanent · Topeka
JCPENNEY
Asset Protection Associate - Clackamas Town Ctr
Permanent · Happy Valley
JCPENNEY
Sales Floor Supervisor - Tyrone sq
Permanent · St. Petersburg
JCPENNEY
Asset Protection Associate - Towne West Square
Permanent · Wichita
JCPENNEY
Asset Protection Associate - Pembroke Lakes Mall
Permanent · Pembroke Pines
JCPENNEY
Asset Protection Associate - Washington sq
Permanent · Portland
JCPENNEY
Sales Floor Supervisor - Woodland Shopg Cntr
Permanent · Grand Rapids
JCPENNEY
Asset Protection Associate - Montclair Plaza
Permanent · Montclair
JCPENNEY
Asset Protection Associate - Gateway Mall
Permanent · Lincoln
JCPENNEY
Asset Protection Associate - Solano Mall
Permanent · Fairfield
JCPENNEY
Asset Protection Associate - Rockaway Town Square
Permanent · Rockaway
JCPENNEY
Asset Protection Associate - Oakland Mall
Permanent · Troy
By
Reuters API
Published
Aug 22, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Proxy adviser recommends Sports Direct shareholders vote against directors

By
Reuters API
Published
Aug 22, 2018

Proxy adviser Glass Lewis & Co has recommended that shareholders in British sportswear retailer Sports Direct International Plc vote against some directors, including Chief Executive Mike Ashley and Chairman Keith Hellawell, at the company's annual meeting on Sept. 12.


Mike Ashley, founder and majority shareholder of sportwear retailer Sports Direct, arrives at the company's AGM, at the company's headquarters in Shirebrook, Britain, September 7, 2016 - Photo: Reuters

Glass Lewis cited "repeated poor governance practices" as the reason for recommending a vote against Ashley, who is also founder of the sportswear chain. Negative media stories on Ashley have damaged the company's public image, it said.

Hellawell and two other directors - Simon Bentley and David Brayshaw - were accused by the proxy adviser of responding poorly to past concerns of shareholders.

The proxy adviser also accused the chairman of "poor gender diversity practices". Sports Direct does not have a meaningful board diversity policy or measurable gender objectives, Glass Lewis told Reuters in an emailed statement.

Sports Direct, which currently does not have a single female board member, should aim for a target of 33 percent of female board representation by 2020, the proxy adviser recommended.

Glass Lewis commented on the purchase by Sports Direct of department store group House of Fraser, saying that shareholders should be concerned about any regulatory investigation.

Earlier this month, Ashley, who also owns English Premier League soccer club Newcastle United, snapped up the 169-year-old House of Fraser's 58 UK stores, its brand and its stock for 90 million pounds ($114.78 million), hours after it collapsed into administration.

The British sportswear retailer's reported pre-tax profit in 2017-18 fell 72.5 percent to 77.5 million pounds.

© Thomson Reuters 2023 All rights reserved.