Sports Direct CFO Resigns Three Weeks After CEO Left Retailerby
Matt Pearson to quit U.K. athletics retailer at year’s end
Pearson plans to join another company, Sports Direct says
Sports Direct International Plc’s acting Chief Financial Officer Matt Pearson is quitting to accept another job, adding to the turmoil at the sporting-goods retailer after the resignation of the chief executive officer and a profit warning.
Pearson will remain in his post until Dec. 31, the Mansfield, England-based company said in a statement Thursday. Herbert Monteith, a long-time executive at the company, will serve as interim head of finance, Sports Direct said.
Dave Forsey quit as CEO last month amid slumping profits and allegations from lawmakers of improper labor practices. Since then, the embattled U.K. retailer has been under the direction of its billionaire founder and owner Mike Ashley.
Sports Direct shares rose 0.6 percent to 281.40 pence at 8:30 a.m. in London, cutting their decline for the year to 52 percent.
The company said Friday that extreme movements in the pound would cut earnings by as much as 35 million pounds ($42.6 million) for the full calendar year if the pound stays at an average of $1.20.