London, April 24, 2026, 12:58 BST
Andrew “Andy” Higginson stepped down as chair of JD Sports Fashion after his attempt to oust Chief Executive Regis Schultz failed to gain full board support, the Financial Times said Friday, citing four sources with knowledge of the situation. According to Reuters, which relayed the FT’s story, Higginson had urged the board to replace Schultz, who has been in the role for three and a half years. Reuters
JD Sports’ breakup comes just ahead of its full-year earnings report set for May 7, zeroing in investor attention on how the British retailer plans to regain momentum in North America and address sluggish sales at home in the UK and across Europe. The stock slipped in London on Friday, extending declines from earlier this week after news of Higginson’s exit broke. AJ Bell
JD rejected claims of a board split regarding Schultz. A spokesperson told Alliance News there was “no disagreement” about backing the CEO. Pentland, holding roughly 55% of JD, signaled continued support, according to the report. AJ Bell
Higginson plans to exit as chair at the close of the annual general meeting, set for July 21, the company said Wednesday. Senior independent director Kath Smith is heading up the hunt for the next chair. In the meantime, Darren Shapland, currently an independent non-executive director, will take over as interim chair after the AGM. Investegate
Higginson, brought on board in July 2022, described his stint at JD as overlapping with a “tough period” for the sportswear sector. He highlighted a renewed push into sports fashion, stepped-up buyouts of minority stakes, and quicker growth internationally—especially in the U.S. Schultz offered thanks for Higginson’s “support and counsel.” Investegate
Trading’s where the squeeze shows. Back in January, JD reported like-for-like sales dropped 1.8% over the nine weeks up to Jan. 3. Stronger results in the U.S. couldn’t make up for slumping demand in the UK and Europe. The company is now expecting profit before tax and adjusting items — that is, profit before stripping out certain one-off or non-core costs — to land around 849 million pounds for the year ending January 2026. That’s a step down from the 923 million pounds reported a year ago. Reuters
The focus has shifted to North America, where JD reports around 40% of its business now comes from. The company’s push in the region includes banners like Hibbett, DTLR, and Shoe Palace. Schultz gets a clear path to expand, though if U.S. sneaker demand stays patchy, the task of pulling it off just got tougher. JD PLC
The broader sneaker market isn’t offering much relief. Nike—JD’s major supplier—announced Thursday it’s laying off around 1,400 employees, aiming to navigate a lengthy sales slowdown. Meanwhile, Reuters noted that brands like On, Hoka, and Anta are moving in, grabbing more shelf space. Nike is projecting a sales decline of between 2% and 4% for the current quarter. Reuters
Higginson’s departure is drawing concern from analysts. Shore Capital’s Clive Black described him as “highly regarded,” adding it would be “naive not to feel a little nervousness” ahead of JD’s preliminary results. Peel Hunt countered that JD is sturdier now than when Higginson took the helm, pointing to the company’s expanded global reach and tighter controls. Proactiveinvestors UK
Dan Coatsworth, who leads markets coverage at AJ Bell, wondered aloud if JD might be in for a “changing of the guard” just as chair Andrew Higginson prepares to depart during a rough patch for the stock. As of 12:40 in London this Friday, JD shares had slipped 1.86% to 70.72 pence, according to Sharecast data. Sharecast
JD’s gamble with the chair switch may just delay tougher questions. Should May’s numbers disappoint—say, thinner margins, heavier discounting, or the hoped-for U.S. rebound stalls—Schultz could still face scrutiny, Pentland backing or not. But if North America stays on track and Nike’s wholesale moves boost JD’s supply, the board might stand by its decision to keep things steady at the top.
Stability is the official line for now. The board hunts for a new chair; Schultz stays put. Investors are left weighing whether this marks a real governance reset—or just more evidence that JD’s turnaround may be tougher than the company lets on.
