JD Sports chairman's exit lamented by analysts and investors

The erstwhile Tesco executive, turned serial retail assemblage chairman, has been successful the relation astatine the sportswear concatenation for astir 4 years.

Under his oversight, JD has "undergone a large transformation", said analysts astatine Peel Hunt, widening its planetary footprint and, "arguably much crucially", besides bolstering its governance and power systems.

"It has been a pugnacious 4 years for the manufacture but determination is nary uncertainty that JD is successful amended signifier arsenic helium leaves than erstwhile helium arrived," the broker said.

In the interim, Higgingson volition beryllium replaced aft the AGM successful July by elder non-executive Darren Shapland, with preliminary results owed earlier that, connected 7 May.

Analyst Clive Black astatine Shore Capital said Higginson is "highly regarded...very susceptible and likeable...a high-quality assets that has materially and efficaciously refreshed the JD, board".

He added: "In a volatile and uncertain world, wherever antagonistic externalities look the bid of the day, we would beryllium naive to look guardant with thing but a small nervousness to the guidance that JD may contented astatine its forthcoming preliminary results."

The JD shares, helium said, were "very lowly rated", with a beardown equilibrium expanse and beardown currency generation, but nervousness astir outer factors kept his 'hold' standing successful place.

Peel Hunt said the shares "are precise inexpensive for specified a beardown planetary brand," and reiterated a 'buy' raing andf 200p people price..