JD Sports director and remuneration chair Andrew Leslie ousted by shareholders
JD Sports shareholders have ousted Andrew Leslie as a non-executive director at the retailer’s latest general meeting, but passed all resolutions relating to senior pay.
In today’s annual meeting Leslie did not receive the required votes to maintain his position within the company, meaning JD Sports will now start looking for a successor.
On the board he served as chairman of the Remuneration Committee and member of the Audit and Nomination Committees.
Leslie joined JD Sports’ board in 2010. Prior to that he was an executive board director of Pentland Brands, from which he retired in 2008.
Peter Cowgill, executive chairman at JD Sports, said: “On behalf of the board, I would like to thank Andrew for his valued contribution to the company, during a period which has seen significant growth and international development.”
That aside, all resolutions passed at the meeting.
However, the company noted “lower levels” of support for its remuneration report and policy.
The retailer said it had spent “significant” time engaging with shareholders over the past year, and has used the feedback to shape its remuneration structure.
Advisers had reportedly warned shareholders to look carefully at bonus payments for bosses after boss Cowgill was paid £4.3m in bonuses last year – including £3m deferred from a special bonus in 2019 – taking his total pay packet to £5m even after a 75 per cent pay cut.
At the same time, the company claimed more than £61m from the furlough scheme and benefited from around £38m from business rates relief.