Sports Direct fails to find independent body to carry out inquiry

Sports Direct‘s shareholders have failed to find an appropriate body to lead the independent review of the business.

Following the company‘s widely publicised annual general meeting in September, Sport‘s Direct‘s independent shareholders reached an agreement with Ashley.

An independent review of the company‘s treatment of employees and its leader‘s corporate governance was demanded as a limited requirement for working with Keith Hellawell as chairman, who Ashley kept on the board.

READ MORE: “Too little, too late”: Unions respond to Sport Direct pledges to improve

Since the AGM, Ashley and the rest of the shareholders have been unable to agree on a person or company to carry out the review.

Law firm Reynolds Porter Chamberlain were, according to the Guardian, put forward by Ashley but rejected as other shareholders stated it was not independent, having worked closely with the billionaire in the past.

No other candidates for leading the investigation have yet been announced, however according to the agreement at the AGM the inquiry must take place before January, where a second vote to re-elect Hellawell will be held.

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