Jul 5, 2019
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Second key exec steps down at Sports Direct

Jul 5, 2019

A second key executive has quit Sports Direct, it has emerged, just a day after we heard that its long-time retail chief Karen Byers is leaving after 28 years.

Sports Direct has lost another key executive

Company secretary Cameron Olsen has also stepped down, according to documents filed with Companies House, having been with the firm for 15 years and in his company secretary role since 2013.

A Sports Direct spokesmen told the Press Association that it wished him well and said Olsen has quit for personal reasons to return to his native Australia. He has been replaced by Tom Piper who joined the company two years ago.

While it’s not a disaster for the company, the loss of two such senior execs (especially Byers who had been credited by company chief Mike Ashley as being the person who really runs the retailer), is a blow.

Ashley is currently reeling from the loss of the firm’s near-30% Debenhams stake, he has exited its investment in struggling MySale and is working to get its House of Fraser acquisition back on track in the toughest retail market the UK has seen for decades.

Sports Direct’s annual results will be released later this month so it will be interesting see how it’s faring. Even success story Primark said this week that its like-for-like sales had fallen recently, although major Sports Direct rival JD Sports has said it’s still doing well.

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