Former B&Q senior executive Regis Schultz expected to join chain from Dubai-based retailer
ormer B&Q boss Regis Schultz is expected to head the sportswear retailer JD Sports following a search to replace self-styled ‘King of Trainers’ and former CEO Peter Cowgill.
Sources close to the business suggest that the announcement of Schultz’s succession to the post could take place within the coming days.
A JD Sports news said: “We note the speculation with regards to our ongoing process to recruit a new group CEO. We reported in our AGM statement on 22 July 2022 that this process was ongoing.
“That remains the case and we will update the market further when appropriate.”
Schultz will join as boss of the high street outlet from the Dubai headquartered Al-Futtaim Group that operates retail outlets occupied by Marks & Spencer, Panasonic, Toshiba, Ted Baker and Zara where he is currently president.
He is a retail veteran with experience as the COO of B&Q after rising through the ranks at the Kingfisher-owned firm and was CEO of the French furniture retailer BUT after its leveraged buyout from Goldman Sachs and Colony Capital.
The French native has also been boss at the country’s electrical retailer Darty and chairman and CEO of food and fashion retailer Monoprix.
Cowgill departed JD Sports in May just months after the retailer was fined more than £4 million for breaching the UK competition regulator’s rules after allegedly holding behind doors meetings with a takeover target.
He was also understood to be unhappy with potential plans to split his role of chairman and chief executive.
Credit: www.standard.co.uk /