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The
company, which announced the plans with its results for the year
ended January 29, posted annual profit that more than doubled
from last year to 654.7 million pounds ($800 million) on strong
demand for its sports leisure wear. Its shares rose 3.4%
JD Sports ousted executive chairman Cowgill last month, saying
its internal governance and controls had not kept pace with the
firm's growth. The group has been run by Cowgill since CEO Barry
Bown stepped down in 2014.
Britain's largest sportswear retailer has come under regulatory
scrutiny from the competition regulator for various issues,
including its relationship with Footasylum and the pricing of
football kits.
JD Sports said it has completed a review and has a plan to
rebase its governance, risk and control environment which
includes separating the roles at the top.
"The process to recruit a CEO is ongoing with a number of high
calibre candidates at different stages of consideration," said
Interim Chair Helen Ashton. "A process to recruit a new
Non-Executive Chair is also progressing at pace."
The review also stressed on the need for a more experienced
board, the company said.
The UK's Competition and Markets Authority (CMA) provisionally
found earlier this year that JD Sports along with a rival broke
competition law over Rangers FC merchandise pricing.
It also fined the group, along with Footasylum, a combined 4.7
million pounds due to meetings that the regulator said breached
an order that barred the two merged companies from integrating
further.
($1 = 0.8181 pounds)
(Reporting by Amna Karimi and Yadarisa Shabong in Bengaluru;
Editing by Shailesh Kuber and Anil D'Silva, Elaine Hardcastle)
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