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 .
Major shareholders in Sports Direct are contemplating voting against the reappointment of the company’s chairman, Keith Hellawell, and other directors at the firm’s AGM in September. Of the independent shareholders’ votes, 24% were cast against Hellawell at the 2015 AGM. The chain 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 grant approval to non-exec directors in companies where an individual shareholder controls 30% of shares; Sports Direct’s founder, Mike Ashley, owns 55% of the company.