The acquisitive UK-based retail giant announced ahead of its July 1 annual investor meeting that executive chairman and CEO Peter Cowgill will drop the latter position and that a search is on for a new chief executive. Controversy over Cowgill’s receipt of £6 million in bonuses since Feb. 2020 while the company collected over £100 million in government aid saw remuneration committee chairman Andrew Leslie ousted from the board by 54.65% of independent votes.

JD also upgraded guidance ahead of the meeting, and is now forecasting pre-tax earnings of at least £550 million ($757 mm) for the year. The estimate bakes ... Log in to view full article.