JD Sports finance head Greenhalgh steps down from retailer
The head of finance at high street sportswear retailer JD Sports Neil Greenhalgh is to step down from his post next year.
A recruitment process will commence to find his successor led by the group’s nominations committee and the newly-appointed chair of the business Andy Higginson with Greenhalgh also involved in the hunt to recruit a new chief financial officer (CFO) for the business.
The retailer has made several senior hires over the summer in an attempt to re-invigorate the brand, following the controversial departure of self-styled ‘king of trainers’ and former CEO and chairman Peter Cowgill who was ousted from the group in May this year, but has since returned as a consultant with a reported £7 million compensation package to sweeten the deal.
Former chairman of Morrisons Andy Higginson was appointed in July as chair of the business and Régis Schultz joined the company as its CEO from Dubai-based Al-Futtaim Group in August.
Higginson, said: ”Neil joined JD in 2004 and has been CFO since November 2018. He has been a key part of the team that has delivered tremendous growth in the business.
“The board would like to thank him for his constructive approach which allows us to search, recruit and induct the best replacement to support the growth plans of the business in a measured way whilst retaining all his experience and knowledge. In the meantime, it’s business as usual whilst the search is underway.”
Greenhalgh said: “The decision to step back from JD during 2023 is one that I have been considering for some time. I fully intend to help Andy and Régis settle into their roles and, by giving the board advanced notice, enable a smooth transition to a new CFO.”
Revenues at the group for the six months to July 3 were boosted to £4.42 billion, up from £3.89 billion the previous year. However, pre-tax profits fell to £298.3 million, down from £364.6 million the previous year.