Wednesday 24 May 2017

Sports Direct CFO to follow chief executive out the door

Sports Direct founder Mike Ashley. Photo: Reuters
Sports Direct founder Mike Ashley. Photo: Reuters

Sports Direct said its chief financial officer had quit to take up a new job, the second management change in less than a month at the British retailer which is trying to mend its battered image.

Sports Direct said CFO Matt Pearson would remain in an acting capacity until December 31, and it had appointed Herbert Monteith as its interim head of finance.

Pearson's resignation follows chief executive Dave Forsey's in September, when the company named its billionaire founder and controlling shareholder Mike Ashley as the new CEO.

The retailer is fighting on a number of fronts. It cut its profit forecast for the second time in a month on Friday, blaming the latest slump in the pound, a new blow as it tries to improve its working practices after being criticised by politicians.

Reuters

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