Sports Direct hires Nike director to boost non-exec team

David Daly will join the board and audit committee in October, following the shock resignation of Sports Direct’s only female non-executive Claire Jenkins earlier this year.

Daly has spent his career in the sports goods industry, most recently working as a senior director at Nike’s club and federation division. He is also a non-executive director at Fulham Football Club.

Sports Direct will report its preliminary results on July 20.

It has been an eventful year for the business with the controversial Keith Hellawell re-elected as chairman despite a shareholder revolt, after being voted through by majority shareholder Mike Ashley.

And the business appointed a workers’ representative following a parliamentary inquiry into the working conditions of its staff.

At its half-year, the business reported sinking profits amid a “tough” six months due to its failure to hedge before the value of the pound fell due to Brexit. Underlying pre-tax profit was down 57% to £71.6m, although sales held up, rising 4.2%.

At the time, Sports Direct said currency headwinds and various strategic challenges would adversely affect its financial performance in the medium term. Investors and industry observers alike will be keen to find out just how adverse those factors have proved.