Over 90% of Sports Direct’s shareholders have voted in favour of founder Mike Ashley’s re-election as a director of the company.
A statement from the group’s AGM on Wednesday (11 September) said that 90.99% of votes cast were in favour of re-electing Ashley, with just over 9% voting against it.
His re-election as director despite reports of a shareholder backlash after two proxy advisers recommended investors vote to remove Ashley from the board.
Ashley told Sky News after the AGM: “Yes I agree that they have a point. The last three months can’t have been very comfortable for them – you’ve got a £600m Belgian tax investigation, you’ve got accountants not seeking re-election – that’s a little bit too much for most shareholders to take.”
A Sports Direct spokesperson added: “We remain totally focused on delivering our elevated proposition which following the AGM continues to be supported by the investor community.”