Significant anti-Ashley vote as Sports Direct chairman quits

After another stormy Sport Direct, nearly 10% of shareholders voted against Sports Direct owner Mike Ashley being re-elected as a director of the company.

The move came after chairman Keith Hellawell earlier announced he was to set to step down from the role following investor pressure.

Hellawell had been with the company for nine years. David Daly, non-executive director, will take up the role of chairman at the conclusion of the AGM.

Hellawell said: “Having overseen significant improvements in the working practices and corporate governance of the Company, which includes a refresh of the Board, now is the right time for me to step aside. I have every confidence that the Group will continue to go from strength to strength. I have enjoyed the challenges of Sports Direct and the support of Mike Ashley; many major investors; members of the Board and senior staff, and wish them much success for the future.”

Another exiting the company was senior non-executive director Simon Bentley, who let slip to reporters that merging House of Fraser, which Sports Direct bought last month, and Debenhams, in which it holds a significant shareholding, “had been discussed”.