Major shareholders in Sports Direct are contemplating voting against the reappointment of the company ’s chairman , Keith Hellawell , and other directors at the company ’s AGM in 2016 . Of the independent shareholders ’ votes , two votes were cast against Hellawell at the 2015 AGM . The company is currently under scrutiny due to revelations about its poor treatment of staff and declining financial performance . If independent shareholders vote against Hellawell, Sports Direct can force his appointment through by holding another vote of all shareholders within 90 days. The upcoming AGM is seen as a potential test of new rules requiring minority investors to give approval to non - exec shares in companies where an individual shareholder controls 30 % of shares ; Sports Direct ’s founder , Mike Ashley , owns 55 % of the company .
Major shareholders in Sports Direct are contemplating voting against the reappointment of the company ’s chairman , Keith Hellawell , and other directors at the company ’s AGM in 2016 . Of the independent shareholders ’ votes , two votes were cast against Hellawell at the 2015 AGM . The company is currently under scrutiny due to revelations about its poor treatment of staff and declining financial performance . The upcoming AGM is seen as a potential test of new rules requiring minority investors to give approval to non - exec shares in companies where an individual shareholder controls 30 % of shares ; Sports Direct ’s founder , Mike Ashley , owns 55 % of the company .