JD Sports confirms Peter Cowgill has stepped down

British sportswear retailer JD Sports has confirmed that boss Peter Cowgill has stepped down with immediate effect.

Cowgill, who has led the sports, fashion and outdoor brands group since 2004, is stepping down after an ongoing review of the company’s internal governance and controls revealed it had decided to accelerate the separation of the roles of chair and chief executive officer.

The process to recruit a new CEO “remains ongoing,” added JD Sports, and in the meantime, senior independent director Kath Smith would replace Cowgill as the interim chief executive. Smith has 25 years of sports and outdoor industry experience, previously serving as managing director of the Adidas and Reebok brands and as general manager and vice president of The North Face EMEA.

JD Sports also added that fellow board member, Helen Ashton would step in as interim chair, while the recruitment process takes place. Ashton, who is the chair of the audit and risk committee, has held a wide range of executive-level roles including at Asos, Lloyds Banking Group and Barclays.

Ashton said in a statement: "The business has developed strongly under Peter's leadership into a world-leading multi-channel retailer with a proven strategy and clear momentum.

“However, as our business has become bigger and more complex, what is clear is that our internal infrastructure, governance and controls have not developed at the same pace. As we capitalise on the great opportunities ahead of us, the Board is committed to ensuring that we have the highest standards of corporate governance and controls appropriate to a FTSE-100 company to support future growth."