Sports Direct International PLC (LON:SPD) investors could rebel against the retailer’s board at its annual general meeting next month, according to reports.
Last month, Sports Direct delayed the publication of its annual results due to the discovery of a €674mln tax claim from Belgian authorities.
READ: Sports Direct's auditor quits
Citing these issues, as well as the tumbling stock price, shareholder advisory service Pirc has recommended that shareholder vote against the company’s senior management.
Pirc wants investors to oppose the re-election of Sports Direct’s founder and chief executive Mike Ashley, chairman David Daly, as well as three of its four directors.
The lobby group said Daly, a former Nike exec, did not have “sufficient experience in a public company” to continue in his role, while the other members, Richard Bottomley, Nicola Frampton and David Brayshaw, did not detect the tax liability or report it to auditors.
The only director to escape Pirc’s wrath is Cally Price, the company’s employee representative.
Shares were down 1% to 244.1p on Tuesday morning.