Sports Direct confirms independent 360-degree review
Source - SMW
Sports Direct International said the forthcoming '360-degree' review of working practices and corporate governance will now be led by an independent party other than RPC.
This followed careful consideration of concerns raised by independent shareholders, the company said in a statement.
"The Board has made this decision after listening to shareholder feedback at the recent AGM/Open Day and during subsequent consultation with a number of the Company's long-standing shareholders via the Investor Forum," it said.
"The Board will continue constructive dialogue with the Company's independent shareholders in order to reach agreement regarding the specific nature and timing of the review.
"RPC will continue to be a valued legal advisor to Sports Direct, and the Board would like to thank RPC for its work on the existing Working Practices Report, which was compiled to the highest standards.
"The Company today further announces that the selection process for the Workers' Representative on the Board of Sports Direct (as also announced on 6 September 2016) shall be via democratic staff elections, in which it is anticipated that all staff directly engaged or employed by Sports Direct may vote, further details of which will be announced at a later date."