Keith Hellawell leaves Sports Direct after a tumultuous period; founder Mike Ashley hits back at media and City for backing company performance, yet “stabbing Sports Direct in the back”.
Despite vocal opposition from major shareholders leading up to Sports Direct’s AGM, Keith Hellawell is narrowly re-elected as Sports Direct chairman.
A number of major institutional shareholders, consultancies and lobbyists are against the reappointment of Sports Direct chairman Keith Hellawell, who is prepared to stand down on their say-so at the impending crunch vote.
Large institutional shareholders may consider a call to change UK listing rules to counter governance failings seen at Sports Direct.
Hedge fund manager Crispin Odey backs embattled Sports Direct CEO Mike Ashley.
Independent shareholders vote against Keith Hellawell, the sitting chairman, who survives with the vote of chief executive Mike Ashley.
Embattled chairman faces fresh calls for his departure ahead of a second vote on his reappointment.
Shareholders could vote against the reappointment of company chairman Keith Hellawell.