Former B&Q chief Regis Schultz is being tipped to run JD Sports Fashion PLC (LSE:JD.) after the sportswear company's long-term boss Peter Cowgill stepped down.
An agreement with Schultz could be signed this week, with the Frenchman joining from Dubai-based Al-Futtaim Group, reported Sky News.
Schultz has held several senior positions at B&Q, part of the FTSE-100 retailer Kingfisher PLC (LSE:KGF), as well as in running French supermarket chain Monoprix.
In addition to his extensive international experience, Schultz's appointment is likely to be viewed as a coup for JD Sports, one of Britain's largest publicly traded retailers.
Recruiting him marks the latest step in JD Sports' boardroom overhaul following the recent appointment of Andy Higginson as chairman.
Upon joining JD Sports, Schultz will replace Kath Smith, a former adidas AG (OTCQX:ADDYY) executive who has been leading the company since Cowgill's departure.
During Cowgill's time as CEO, shares in JD Sports soared 5,800%, with athleisure brands selling well and the business growing internationally.
The company is majority-owned by Pentland, a family-controlled group that manages the Berghaus, Lacoste, and Speedo brands.
In 2019, JD Sports became embroiled in a series of public disputes with regulators, notably over its ownership of the Footasylum chain, which it acquired in 2019 for £90mln.
The Competition and Markets Authority (CMA) told JD Sports to sell the business and in February fined both companies nearly £5mln for sharing commercially sensitive info.
The CMA is also investigating the sale of Rangers FC replica kits by the Bury-based company.