In a sudden announcement today, Sports Direct has said that its chairman Keith Hellawell is to retire later from the company after nearly a decade in the role.
David Daly, a non-executive director, will be taking up Hellawell’s role. Daly was appointed to the board last year.
Hellawell said: “Having overseen significant improvements in the working practices and corporate governance of the company, which includes a refresh of the board, now is the right time for me to step aside”.
“I have every confidence that the group will continue to go from strength to strength. I have enjoyed the challenges of Sports Direct and the support of Mike Ashley, many major investors, members of the board and senior staff, and wish them much success for the future.”