The departure of JD Sports Fashion PLC (LSE:JD., OTC:JDSPY) chair Andrew Higginson this summer was met with surprise and disappointment by investors and analysts.
The former Tesco executive, turned serial retail sector chairman, has been in the role at the sportswear chain for around four years.
Under his oversight, JD has "undergone a major transformation", said analysts at Peel Hunt, widening its global footprint and, "arguably more crucially", also bolstering its governance and control systems.
"It has been a tough four years for the industry but there is no doubt that JD is in better shape as he leaves than when he arrived," the broker said.
In the interim, Higgingson will be replaced after the AGM in July by senior non-executive Darren Shapland, with preliminary results due before that, on 7 May.
Analyst Clive Black at Shore Capital said Higginson is "highly regarded...very capable and likeable...a high-quality resource that has materially and effectively refreshed the JD, board".
He added: "In a volatile and uncertain world, where negative externalities seem the order of the day, we would be naive to look forward with anything but a little nervousness to the guidance that JD may issue at its forthcoming preliminary results."
The JD shares, he said, were "very lowly rated", with a strong balance sheet and strong cash generation, but nervousness about external factors kept his 'hold' rating in place.
Peel Hunt said the shares "are very cheap for such a strong global brand," and reiterated a 'buy' raing andf 200p target price..