JD Sports Fashion - AGM 31 July 2020
JD Sports Fashion is a subsidiary of Pentland Group (55% of the capital), a private family owned company. The group entered the FTSE100 index during the summer 2019. This is our first report and we have a lot of concerns regarding its governance (Re-election of the Executive Chairman in item 4 or re-election of non-independent Chair of the Remuneration committee in item 6) and its remuneration (items 2 and 3). The Board lacks independence and gender diversity, there is no timely succession.
The remuneration of the Executive Chairman is short-term, the group does not operate any share-based incentive and, as such, has not set any shareholding requirements for executives to hold JD Sports Fashionns shares. Apparently, the major shareholder preserves its part in the capital. The remuneration structure is unsatisfactory and the quantum is excessive.
JD Sports Fashion is engaged in the retail of branded sports fashionwear and outdoor clothing and equipment. Co. is multiple retailer of fashionable branded and own brand sports and casual wear in the U.K. and Republic of Ireland combining brands such as Nike, adidas and The North Face with its own brand labels such as Pink Soda, Supply & Demand and The Duffer of St George. Co.'s operations are located in the U.K., Republic of Ireland, France, Spain, Germany, the Netherlands, Italy, Portugal, Sweden, Denmark, Belgium, Malaysia, Australia, New Zealand, Canada, Dubai, Singapore and Hong Kong. As of Jan 28 2017, Co. operated a total of 1,288 retail stores across 14 countries.
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