JD Sports CFO to step down in 2023

JD Sports Fashion has announced that Neil Greenhalgh will step down from his role as Chief Financial Officer in 2023.

The Nominations Committee, led by Andy Higginson, will now commence a process to recruit a successor. No confirmed date of departure has been announced.

The company confirmed that Greenhalgh is "committed to assist" in the recruitment process to "help ensure an orderly succession". He will also work with the JD Sports Fashion board and KPMG LLP in the audit and subsequent publication in Spring 2023 of its financial statements for the 52 week period to 28 January 2023.

Andy Higginson, Chair, 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."

Neil Greenhalgh, CFO, 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."

Last month, JD Sports agreed a £5.5m deal for ex-Chairman Peter Cowgill's exit.

Cowgill stepped down in May 2022 after 18 years as the sportswear retailer’s executive chairman. His resignation came after the company was fined £4.3 million by the competition watchdog for exchanging information with Footasylum. Reports suggested that Cowgill had a secret meeting with a counterpart from the brand.

Andrew Higginson took over from Peter Cowgill as Chairman in July and Régis Schultz was announced as the group's CEO in August.