Sports Direct has attempted to appease investors concerned over founder Mike Ashley’s personal power over the company by appointing a new finance chief after the role lay vacant for 18 months.
Matt Pearson, who was previously group financial controller of the retailer, was named acting chief financial officer. It is understood his position could be made permanent in future.
Shares fell 1.4% to 674.5p.
The long search for a finance chief had sparked criticism that the FTSE 100 business had put too much power into Newcastle United-owner Ashley’s hands since former finance director Bob Mellors retired through ill-health in December 2013.
Chairman Keith Hellawell said: “After a thorough process and following soundings from leading institutions I am delighted that Matt has been appointed... [he] is perfectly placed to take on the additional responsibilities of this role on an interim basis.”
Earlier this year, Hellawell said a permanent appointment had almost been made at the end of last year but had fallen through at the last minute.
