UK sportswear retailer JD Sports has continued its boardroom overhaul with the appointment of Régis Schultz as its new chief executive.
The French retail veteran will join from Al-Futtaim Group, where he has been president of retail since 2019. The Dubai-based conglomerate operates stores such as Ikea, Marks and Spencer and Zara across the Middle East, Asia and north Africa.
Prior to his time at Al-Futtaim Group, Schultz was chief executive of Monoprix, the French grocery chain.
The French executive has a long history of heading up various retail divisions, having also served as chief operating officer of British DIY chain B&Q, and stints at furniture and electrical goods retailers.
His appointment comes a month after Andy Higginson replaced Peter Cowgill as chair of the trainer and streetwear retailer, after he left following clashes with the UK’s competition regulator over its decision to retrospectively block JD’s takeover in 2019 of smaller rival Footasylum.
JD Sports on Monday said it was selling Footasylum for a significant loss, accepting £37.5mn from German investment group Aurelius, compared with the £90.1mn that JD spent buying it off the stock market in 2019.