Sports Direct names interim CFO following investor unrest – Telegraph.co.uk

The appointment of an acting CFO marks an internal reshuffle, with Mr Pearson previously the company’s group financial controller, having joined the sporting goods retailer in 2007.

^{The hedge fund manager Crispin Odey, Sports Direct’s third biggest shareholder}

On Thursday, Keith Hellawell, the company’s chairman, said: “After a thorough process and following soundings from leading institutions I am delighted that Matt has been appointed acting chief financial officer and is to join the board.

“Matt is already leading our group finance team and is now perfectly placed to take on the additional responsibilities of this role on an interim basis.”

The lack of a finance chief was one of a number of concerns that investors have harboured about corporate governance at the retailer.

Standard Life, another a major investor in the company, also criticised Sports Direct earlier this year, saying there is “a need for a higher standard of governance assurance”.

Meanwhile, analysts at Morgan Stanley have said that nervousness about governance was detering institutional investors from buying shares in the business.

In April they outlined a catalogue of worries about Sports Direct, which included the absence of an investor relations director; Mr Ashley’s claim that he was “too busy” to attend a Parliamentary select committee hearing; and share sales by the founder that contravened lock-up agreements.