Sports Direct chairman quits after just three months
David Richardson resigns as chairman of beleaguered retailer after fall out with executive team
David Richardson resigns as chairman of beleaguered retailer after fall out with executive team
David Richardson, the former finance director of
Whitbread , has
resigned as the chairman of struggling retail group
Sports Direct after
just three months in the job.
Richardson quit because he had been ‘unable to establish a strong working
relationship with the executive team’.
His resignation follows intense irritation with the company from investors
and analysts, who have been frustrated with the relutance of the group’s founder
and chairman Mike Ashley to engage with the City and appoint financial advisers.
The stock has fallen 31.7% to 205p a share since it listed. The company is
now worth £1.47bn compared with £2.2bn when it listed in February.
The departure of Richardson, a
City
veteran, is believed to have come about because he could no longer tolerate
Ashley’s refusal to engage properly with investors and follow City protocol.
Further reading:
Read
an interview with Richardson
The numbers you crunch tell a story. Your expertis...
17yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThis follows an investigation into undisclosed personal loans and issues with an acquisition. Despite challenges, the company aims to achieve £1bn in ...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThere is optimism that the IPO market will rebound in the second half of 2024, driven by pent-up demand and potential improvements in economic conditi...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleKPMG confirms reappointment of it's UK chair, while EY announces Janet Truncale as the next EY global chair and CEO Read More...
View articleThe ICAEW has announced the appointment of its forthcoming chief executive Read More...
View article