JJB Sports CEO steps down
Struggling sportswear retailer JJB Sports has announced that CEO Keith Jones is to leave the business.
The company said in statement that Jones will be stepping down from the board with immediate effect but will stay with the business in an advisory capacity until the end of August to ensure an orderly handover of his responsibilities.
The company is currently in discussions to appoint an interim CEO.
Earlier this month JJB announced that like-for like sales in the 24 weeks to 15 July had dropped 8.7%. In addition, the company confirmed that it had entered discussions with "strategic partners" to accelerate the timing of additional funding required to implement its turnaround plan. In April JJB was brought back from the brink after receiving a £20 million investment from US retailer Dick's Sporting Goods.
JJB has recently appointed US retail veteran Robert Corliss as its new chairman. Corliss will take over formally from former chairman Mike McTighe on 1 September.
Commenting on the announcement Corliss said: "On behalf of all the Board I would like to thank Keith for his tireless efforts to rescue JJB and return it to commercial health. During his time at JJB, Keith helped to secure vital additional funding for the business and significantly strengthened relations with our major supplier partners."
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