As Standard Life and Aviva drastically reduce their holdings in Sports Direct, the retailer prepares to face investors at its AGM in a month’s time.
Photo: Ninian Reid, Flickr
Major investors have divested their holdings in Sports Direct, as the retailer continues to battle to convince the markets that it has improved its governance.
Standard Life has sold its 5.8% holding in Sports Direct, while Aviva told Board Agenda that it had “significantly reduced” its stake.
Sports Direct has been blighted with governance issues, from reports of poor working conditions, the departures of a number of senior executives, to the power still wielded by majority stakeholder Mike Ashley.
There is also uncertainty over the future of chairman Keith Hellawell, who had previously said he would step down if minority shareh
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