The Investor Forum Doesn’t Want any More “Quick Fixes” From Sports Direct

Influential shareholder group the Investor Forum has said today that Sports Direct “can’t have any more quick fixes” in its bid to reform its corporate governance. Senior adviser at the Investor Forum, Phineas Glover, said a meeting with Sports Direct’s founder Mike Ashley on Wednesday – after the company’s AGM – was the “frankest exchange of views I’ve seen” between the board and independent shareholders. “We can’t have any more quick fixes or incremental adjustments,” Glover said. On Wednesday, the independent shareholders voted to eject chairman Keith Hellawell from the board, but before the result of the vote was announced, Hellawell said he would be staying on.