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Birmingham Post
Birmingham Post
Business
Jon Robinson

JD Sports' shareholders voice opposition to ex-Amazon executive's board role

Shareholders in JD Sports have voiced their opposition to the re-appointment of a former Amazon executive to its board.

A "significant" number of votes were cast by independent shareholders against Mahbobeh Sabetnia being re-elected to the board at the company's annual general meeting earlier today (June 27).

Despite the opposition, Mrs Sabetnia was re-elected to the board of the Greater Manchester-headquartered group.

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Mrs Sabetnia was first appointed to the board in November 2021 and is a non-executive director.

She is also a member of the remuneration committee and serves as consumer duty director.

Mrs Sabetnia succeeded Heather Jackson on the board, who had served for six years, and has previously held executive roles at Amazon, McDonald's, HSBC and Mars.

In a statement issued to the London Stock Exchange, JD Sports said: "While all resolutions were passed, the company notes that a significant number of votes were cast by independent shareholders against resolution 10 relating to the re-election of Mahbobeh Sabetnia as a director of the company.

"The board takes seriously its responsibilities to represent the interests of shareholders and to uphold the highest standards of corporate governance and it will engage with shareholders over the coming months to understand any ongoing concerns around Mahbobeh Sabetnia's re-election.

"In line with the provisions of the UK Corporate Governance Code (July 2018), the company will provide an update on the views received from shareholders and actions taken in response within the next six months."

Earlier in the day, JD Sports said it still expects to report a profit of over £1bn for its current financial year after its sales continued to grow in recent months.

The company added it has opened a net of 32 stores in the first four months of its year.

It added that it is also on track to open more than 150 stores by the end of its financial period.

The opposition shown by JD Sports' shareholders comes after similar voting results at other high-profile North West companies this month.

Shareholders in online retail and software giant THG recently voiced their opposition to the reappointment of a long-standing board member.

Over 23% voted against the re-election of Iain McDonald to the group's board as a non-executive director at its annual general meeting on June 21.

Mr McDonald has been a non-executive director and investor in the Manchester-headquartered group since 2010.

Shareholders of Boohoo also staged a revolt over the fashion giant's proposed executive bonuses.

The Manchester-headquartered group was braced for opposition to its remuneration report after advisory firms recommended investors reject it.

Over 32% of shareholders voted against the report at its annual general meeting on June 22.

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