JD Sports Fashion Plc has a new CEO.
The sportswear retailer announced today that it had selected Regis Schultz to fill its CEO position. JD announced in a statement that he’s expected to assume the role in September, after which Kath Smith will take over the company. She will return to her position as her senior independent director of the board. (Smith was appointed in interim, following the departure of the board’s director Peter Cowgill left his post at the end of April.)
“JD has proven time and time again to be among the most effective retailers of multi-brand formats across the globe. We’re determined to go further in developing the international expansion of our brands by leveraging our knowledge and experience and developing our customers’ experience across multiple channels. I am extremely excited to join the Group and look forward to working with the team to capitalize on growth opportunities.” Schultz said in a statement.
JD said Schultz provides valuable leadership in the retail sector to the company and has a proven track record that includes “effecting transformational change through digitization, driving multi-channel growth strategies and working across international markets.”
In the past, Schultz worked for Dubai-based conglomerate Al-Futtaim Group, where he was the president of retail until the year 2019. According to a statement from the company, the retail division of the company was responsible for the launch of brands such as the Zara, Ikea, Hugo Boss, M&S and Lacoste brands across the various regions that it serves, which include such areas as the Middle East, Asia and North Africa. Before joining the Al-Futtaim Group, Schultz was the CEO of France’s city-centre restaurant and fashion store Monoprix.
“The board has used this opportunity to conduct an international search to identify the most suitable person to head JD in the next stage in its growth. Regis has the qualities we sought,” Andrew Higginson, non-executive chairman of JD, announced in an announcement. “He is a true retailer and has experience in all formats for retail. He has also brought about transformative change via digitization in several positions. In addition, he has substantial international experience, which will be crucial when working with our team of senior leaders and me to implement our strategy for growth. We look at Regis joining our team.
Schultz isn’t the only change in leadership JD has made in recent months. In July, JD announced Higginson as the new chair beginning on July 11. Before the announcement, Higginson most recently served as Chair for William Morrison Supermarkets from January 2015 through November 2021, as well as in various high-level leadership positions at Tesco for about 15 years.
Furthermore, JD Sports Fashion Plc announced that it had signed an agreement to sell the Footasylum label to German asset management company Aurelius to the tune of PS37.5 million ($46 million at current exchange rates).