JD Sports CFO Greenhalgh to step down next year, shares slide

12th Oct 2022 11:02

(Sharecast News) - JD Sports Fashion said on Wednesday that chief financial officer Neil Greenhalgh plans to step down next year.

The Nominations Committee, led by Chair Andy Higginson, will now begin a process to recruit a successor, the sportswear retailer said. Greenhalgh will assist in the process to help ensure an orderly succession, and will work with the board and KPMG in the audit and subsequent publication of the company's full-year results in Spring 2023.

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."

The shares slumped following the announcement and by 1105 BST were trading down 5.1% at 94.38p.