PracticeConsultingTaking Stock – No pressure, but resign, or else.

Taking Stock - No pressure, but resign, or else.

There’s nothing more likely to land an employee in hot water with the boss than a smidgen of bare-faced cheek.

Peter Cowgill, the finance director of sportswear retailer JD Sports, can certainly testify to that after he shot himself in the foot recently.

Cowgill said, as the retailer announced solid results after a fairly wretched time, that he would be transferring his services away from the sportswear retailer with a decent pay-off in the next few months.

During a conference call he said: ‘Over the past six months I’ve been approached by three different plcs and I haven’t pursued any of them because I’ve had to restore financial credibility to the company.’

However, the idea that he would get a golden handshake was dismissed by chairman John Wardle despite the fact that the company recently announced healthy half-year results.

Cowgill denied he had a bust-up with Mr Wardle, but said he would get a pay-off if he left.

However, Wardle intercepted the conversation on a conference call to say: ‘Peter has resigned.’

But the question remained, would Cowgill receive a pay-off? ‘Not to my knowledge,’ Mr Wardle said, leaving Mr Cowgill to reply: ‘I only said I was hopeful.’

‘Thank you for stirring this pot,’ Wardle added. ‘We were getting on well at the beginning of this.

‘We’re just going to put the phone down so we can have a fight.’

TS is fairly certain which of the two was the more likely to land the KO punch.

Related Articles

5 tips for SMEs to protect cash flow

Accounting Software 5 tips for SMEs to protect cash flow

5m Alia Shoaib, Reporter
Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

Consulting Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

11m Stephanie Wix, Writer
Managing partner Q&A - the year ahead: Richard Toone, CVR Global

Accounting Firms Managing partner Q&A - the year ahead: Richard Toone, CVR Global

12m Kevin Reed, Writer
Deloitte 'self-imposes exile' on government contracts to defuse PM row

Accounting Firms Deloitte 'self-imposes exile' on government contracts to defuse PM row

12m Kevin Reed, Writer
Managing partner Q&A - the year ahead: Julie Adams, Menzies

Accounting Firms Managing partner Q&A - the year ahead: Julie Adams, Menzies

12m Kevin Reed, Writer
Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

Business Regulation Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

1y Kevin Reed, Writer
Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

Audit Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

1y Kevin Reed, Writer
New head of equity capital markets for KPMG

Accounting Firms New head of equity capital markets for KPMG

1y Stephanie Wix, Writer