Sports Direct have announced that they will hold an independent review into working practices.
RPC, who carried out the company’s initial review, were due to carry out a second study.
However, in a statement, Sports Direct said: “Having given careful consideration to concerns raised by independent shareholders, facilitated by the Investor Forum, Sports Direct today announces that the forthcoming ‘360-degree’ review of working practices and corporate governance which was announced on September 6 and which was to be led by RPC will now be led by an independent party other than RPC.
“The Board has made this decision after listening to shareholder feedback at the recent AGM/Open Day and during subsequent consultation with a number of the company’s long-standing shareholders via the Investor Forum.
“The Board will continue constructive dialogue with the Company’s independent shareholders in order to reach agreement regarding the specific nature and timing of the review.
“RPC will continue to be a valued legal advisor to Sports Direct, and the Board would like to thank RPC for its work on the existing Working Practices Report, which was compiled to the highest standards.”
The company also stated that the selection process for the Workers’ Representative on the Board of Sports Direct will be by democratic staff elections, in which it is anticipated all staff directly engaged or employed by Sports Direct may vote, further details will be announced at a later date.
