JD Sports brings forward directors’ pay vote

JD Sports CEO Régis Schultz

Bury-based FTSE 100 retailer JD Sports Fashion plc announced it has brought forward a revised directors’ remuneration policy to a shareholder vote “at the earliest opportunity” on December 13, 2022

The company said in a stock exchange statement: “Following the appointment of Suzi Williams as remuneration committee chair in September 2022, the company initiated a thorough review of its remuneration policy.

“We consulted with a wide range of investors to understand why the company’s remuneration policy and reports had consistently not gained desired institutional support over a number of years.

“Reflecting on the feedback received, the committee have been considering the structure of a revised policy that brings the company in line with FTSE 100 best practice with a greater emphasis on share-based remuneration.  

“Following this exercise, the remuneration committee has taken the decision to bring forward a revised directors’ remuneration policy to a shareholder vote at the earliest opportunity.

“This will put in place a remuneration policy appropriate for the size and complexity of the business.

“The General Meeting will be held at 9.00am on Tuesday 13 December 2022 at Edinburgh House, Hollinsbrook Way, Pilsworth, Bury, BL9 8RR, to table a revised Directors’ Remuneration Policy, as well as a new Long Term Incentive Plan 2022 and a new Deferred Bonus Plan 2022.

“The company is grateful for the time and effort spent by shareholders in engaging with the company and is keen to continue open and honest communication with our investors in future.”