Mike Ashley’s Sports Direct is to appoint a worker to attend board meetings.
Candidates will stand in an election and the winning representative will be invited to attend and speak at all scheduled board meetings.
The move comes after a tumultuous 2016 when billionaire Ashley was grilled by MPs over ‘Victorian’ working conditions at the firm’s warehouse in Derbyshire.
Sports Direct founder Mike Ashley outside the Sports Direct headquarters in Shirebrook, Derbyshire
UNITE OFFICIAL Steve Turner said the union was ‘sceptical’ about whether any elected worker would have a meaningful voice on the board.
LEGO LIFT Booming global demand helped toy-maker Lego toast record results. Sales last year grew 6 per cent to £4.4 billion – the highest in its 85-year history – while net profit rose to £1.1 billion. The Danish toymaker said it saw ‘strong potential’ in China and was encouraged by sales in Europe.
JD AGREEMENT Retail giant JD Sports is considering a partnership with a Portuguese rival. The sportswear brand said it has agreed a ‘memorandum of understanding’ with Sport Zone owners Sonae – one of the largest sportswear retailers in Spain and Portugal – to create an Iberian retail group.
BMW BOOMING German luxury car company BMW posted an 8 per cent rise in profit in 2016 as demand soared. The maker of BMWs, Minis and Rolls-Royce vehicles said profits reached £6 billion last year while sales rose 2.2 per cent to £81.6 billion.
GREEK GLOOM Unemployment rose to 23.1 per cent in December as Greece continued its long battle back to health. Greece has been mired in a depression since the financial crisis and has had to beg for three bailouts.
CHRISTIE’S CLOSURE High-end auctioneer Christie’s is shutting its west London showroom after a fall in sales. The South Kensington site opened in 1975. Its main premises in King Street, near The Ritz hotel, will remain open. The change has been triggered by a surge in demand online.
SUPERMARKET GIANT Tesco is to reimburse 140,000 workers almost £10million after a review of its reward systems. Most of those affected will receive up to £40 each. The review found voluntary contributions made by some people to benefits such as pensions and childcare vouchers led to errors that resulted in their pay not reaching National Living Wage levels.