Over the summer the business has replaced management’s top deck with new chair and CEO
Neil Greenhall, head of finance at high street sportswear retailer JD Sports, is set to step down next year.
A recruitment process will begin to find his successor to lead the group’s nomination committee and Greenhall will be joined by Andy Higginson, the newly appointed President of the business, to recruit a new Chief Financial Officer (CFO) for the business.
Following the controversial departure of self-proclaimed ‘king of trainers’ and former CEO and chairman Peter Cowgill, the retailer in an effort to reinvigorate the brand over the summer has hired several seniors, who were ousted from the group in May this year. went. , but has since returned as a consultant and reported a £7 million compensation package to sweeten the deal.
Morrison’s former chairman Andy Higginson was appointed as business president in July and Regis Schultz joined the company in August as CEO of Dubai-based Al-Futaim Group.
Higginson said: “Neil joined JD in 2004 and has been CFO since November 2018. He has been an important part of the team that has grown the business tremendously.
“The Board would like to thank them for their creative approach that allows us to discover, recruit and engage the best replacements to support the business’s growth plans while retaining all of their experience and knowledge. In the meantime, when Till the search is on, it works as usual.”
Greenhall said: “The decision to withdraw from the JD during 2023 is one I have been contemplating for some time. I fully intend to help Andy and Regis settle into their roles and enable a smooth transition to a new CFO, by giving advanced notice to the Board. ,
Revenue in the group for the six months to July 3 increased to £4.42 billion, up from £3.89 billion in the previous year. However, profit before tax fell to £298.3 million, down from £364.6 million in the previous year.
Credit: www.standard.co.uk /