Changes to FCA rules mean minority shareholders could block Keith Hellawell’s re-election
Sports Direct chairman, Keith Hellawell, is expected to come under renewed pressure to step down from the retailer’s board at its annual meeting next week as a result of new rules giving increased rights to minority shareholders.
New guidance from the Financial Conduct Authority, the financial watchdog, means that for the first time, Sports Direct’s executive deputy chairman, Mike Ashley, who owns a 55% stake in the company he founded, can be challenged by other investors.
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Source: The Guardian Circular Economy RSS