Royal London Attacks Sports Direct Over Corporate Governance Issues Ahead of AGM

Two major investment firms are set to join a revolt against Sports Direct’s corporate governance at a crunch AGM on Wednesday. Royal London and Hermes will vote against several board appointments. Royal London Asset Management, which owns a £2.75m stake in the retailer, also pushed Sports Direct to commission an independent external review into its working practices. The company published its internal working practices review today. It comes after MPs likened its warehouse in Shirebrook, Derbyshire to a “Victorian workhouse”. And last night Sky News’ Mark Kleinman reported that Hermes Investment Management will vote against the firm’s chairman, senior independent director, and the head of its remuneration committee.