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JD Sports lines up former B&Q exec as new CEO


JD Sports
// JD Sports is close to finalising the appointment of former B&Q exec Regis Schultz as new CEO
// Schultz will become the long-term replacement for Peter Cowgill

JD Sports has lined up a former B&Q executive to take the role of chief executive at the sportswear retailer.

The company is close to finalising the appointment of former B&Q finance chief, Regis Schultz as its new chief executive.

The appointment could be announced within a matter of days, Sky News reported.

READ MORE: JD Sports expects another year of record profits as sales rise

As JD Sports’ chief executive, Schultz will become the long-term replacement for Peter Cowgill.

Cowgill resigned last month amid boardroom disagreements over succession and corporate governance.

Schultz will join JD Sports from Dubai-based conglomerate Al-Futtaim Group, which operates a substantial retail business spanning the Middle East and Asia.

Schultz held several senior jobs at B&Q, which is part of the FTSE-100 retailer Kingfisher, and also ran Monoprix.

His recruitment will form the latest part of JD Sports’ boardroom overhaul following the recent appointment of Andy Higginson as the company’s chairman.

Schultz would replace Kath Smith, a former Adidas executive, who has been running the company since Cowgill’s departure.

JD Sports is majority-owned by Pentland, the family-controlled group which manages a portfolio of brands, including Berghaus, Lacoste and Speedo.

Pentland is said to have been supportive of the move to replace Cowgill by splitting the executive chairman role he had held for years.

Last week, JD Sports was in detailed talks to sell Footasylum to Aurelius Group, the private equity investor.

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