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You can find the current article at its original source at https://www.theguardian.com/business/live/2016/sep/07/sports-direct-annual-general-meeting-showdown-mike-ashley-business-live
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| Version 6 | Version 7 |
|---|---|
| Sports Direct faces shareholder revolt as Mike Ashley hits out at unions - live | |
| (35 minutes later) | |
| 12.22pm BST | |
| 12:22 | |
| Non-executive director Claire Jenkins has jumped to Ashley’s defence, saying that Sports Direct has the “most open” board meetings of any company she’s worked at. | |
| And she denies that yesterday’s report (written by Mike Ashley’s lawyers) wasn’t independent: | |
| I take issue with them not being called independent. [The report] was very uncomfortable reading for all." Claire Jenkins, Sports Direct | |
| 12.19pm BST | |
| 12:19 | |
| Aviva, a significant shareholder, asks if there’s any point discussing Keith Hellawell’s position - as the company declined his resignation last weekend. | |
| Hellawell says “yes” (reminder, he’s already promised to leave in 2017 if he loses a vote of confidence next year) | |
| 12.16pm BST | |
| 12:16 | |
| Mike Ashley doesn’t seem to be enjoying the AGM very much: | |
| #sportsdirect Mike Ashley now sitting glumly, refusing to take questions | |
| 12.13pm BST | |
| 12:13 | |
| Although Mike Ashley has lost his grip on his (Sports Direct-branded?) rag, his chairman is calmer. | |
| Keith Hellawell says the time for excuses is over, and that Sports Direct has reached a watershed moment. | |
| Grace Hetherington of ShareAction UK says it’s quite a contrast: | |
| Hellawell managing to keep his cool, in stark contrast to Ashley. No wonder the company won't let him resign. #sportsdirectAGM | |
| 12.11pm BST | |
| 12:11 | |
| Here’s the key quote from Ashley’s outburst, after Unite questioned the value of his offer of permanent contracts to store staff: | |
| Ashley to Unite: don't do the whole show boating thing. It will make me turn away, the only people who suffer are people that work at SD | |
| 12.09pm BST | |
| 12:09 | |
| UNITElive at Sports Direct AGM:Ashley has stopped proceedings and is asking an independent shareholder if she is a member of Unite | |
| 12.04pm BST | |
| 12:04 | |
| Ashley blamed unions for warehouse problems. | |
| Oh dear. Mike Ashley’s cheery mood has vanished, as the criticism from Unite’s Steve Turner hits home. | |
| The Sports Direct founder (who still owns half the company!) has kicked off, saying the unions must take some blame for the abuses that were perpetrated at his warehouse. | |
| Ashley arguing that “it’s probably your fault that we’re in this mess”, claiming that he’s not been about to talk to the unions about conditions onsite. | |
| Angry outburst by Ashley who says: I've made commitment to make a difference I'm trying so don't pull me down. | |
| Mike Ashley gets shirty @unitetheunion "if you had been reasonable before... I'm trying, don't pull me down, it doesn't help...." | |
| Ashley: "Let’s not have a punchup like in a silly cartoon." | |
| It’s caused quite a stir in the Auditorium.... | |
| "You can see why there's a bullying culture" - shareholder in audience, under her breath, in response to Ashley's outburst. #SportsDirect | |
| 11.57am BST | |
| 11:57 | |
| Unite union: Agencies to blame for Sports Direct abuses | |
| Steve Turner of the Unite union asks why Sports Direct store workers are being offered a choice between a zero hours contract, and one only guaranteeing 12 hours a week. | |
| Many zero-hours workers are actually putting in a 40-hour shift each week, Turner says - so there’s no incentive to take a new contract. | |
| And he lambasts Sports Direct for using thousands of agency workers at Shirebrook; blaming the agencies responsible for many of the problems onsite. | |
| Steve Turner @unitetheunion says "Agencies have been behind the abuses" & he's shocked "Sportsdirect don't even have contracts with them" | |
| "Your name is being dragged through the mud" as a result of agencies' behaviour. Millions handed to agencies - #SportsDirect responsibility. | |
| 11.54am BST | |
| 11:54 | |
| What about the investigation into how Sports Direct paid staff less than the minimum wage? | |
| Hellawell says the inquiry into warehouse staff has been finished (and staff are being paid the money they’re owed). | |
| But he also says that there are always conversations with the tax authorities -- perhaps over whether staff in its stores have been underpaid?... | |
| Forsey says conversations with HMRC "always on going" but warehouse investigation concluded | |
| Forsey asked about what inquiries are ongoing with HMRC. He very specifically says the "warehouse" inquiry is done. No word on store inquiry | |
| 11.51am BST | |
| 11:51 | |
| Mike Ashley insists he has nothing to hide, and promises (or threatens) to say until midnight to answer everyone’s questions. | |
| But now we have Dave Singleton, an independent non-executive chairman, answering questions about operational problems at the company. | |
| 11.48am BST | 11.48am BST |
| 11:48 | 11:48 |
| Sports Direct are now taking questions from the floor, and facing a flurry of criticism and accusations. | Sports Direct are now taking questions from the floor, and facing a flurry of criticism and accusations. |
| One shareholder, Anis Anil, also a worker, asks why company "did nothing" after a letter he has seen was sent with various allegations. | One shareholder, Anis Anil, also a worker, asks why company "did nothing" after a letter he has seen was sent with various allegations. |
| #SportsDirect employee addresses Mike Ashley: raises numerous allegations of sexual and racial harassment | #SportsDirect employee addresses Mike Ashley: raises numerous allegations of sexual and racial harassment |
| Another shareholder asks why Sports Direct hasn’t operated a staff forum, or appraisals. | Another shareholder asks why Sports Direct hasn’t operated a staff forum, or appraisals. |
| Keith Hellawell admits that “the system isn’t good enough” and promises to improve it. | Keith Hellawell admits that “the system isn’t good enough” and promises to improve it. |
| 11.45am BST | 11.45am BST |
| 11:45 | 11:45 |
| Why Standard Life lost patience with Sports Direct | Why Standard Life lost patience with Sports Direct |
| Standard Life says it is voting against the board because the turnaround plan announced yesterday simply doesn’t go far enough. | Standard Life says it is voting against the board because the turnaround plan announced yesterday simply doesn’t go far enough. |
| It wants to see ‘strong’ independent directors who can challenge Mike Ashley, as well as help him run the company (which has been “starved” of investment). | It wants to see ‘strong’ independent directors who can challenge Mike Ashley, as well as help him run the company (which has been “starved” of investment). |
| Standard Life says independent review of governance required at Sports Direct. Follow-up plan for working practices report doesn't do enough | Standard Life says independent review of governance required at Sports Direct. Follow-up plan for working practices report doesn't do enough |
| Standard Life: Ashley should have pivotal role at Sports Direct reflecting his influence but needs support and challenge from strong execs. | Standard Life: Ashley should have pivotal role at Sports Direct reflecting his influence but needs support and challenge from strong execs. |
| Standard Life says there's long-term value in Sports Direct but it has been starved of investment in people, facilities and infrastructure. | Standard Life says there's long-term value in Sports Direct but it has been starved of investment in people, facilities and infrastructure. |
| Standard Life's Stirling says has tried to talk to Sports Direct as long-term investor to little effect.Yesterday's report was step forward. | Standard Life's Stirling says has tried to talk to Sports Direct as long-term investor to little effect.Yesterday's report was step forward. |
| 11.38am BST | 11.38am BST |
| 11:38 | 11:38 |
| Chief executive Dave Forsey doesn’t seem to share Mike Ashley’s perkiness. | Chief executive Dave Forsey doesn’t seem to share Mike Ashley’s perkiness. |
| Dave forsey up&speaks about Improving relations with press & the City in same tone of voice one would use to discuss impending root canal | Dave forsey up&speaks about Improving relations with press & the City in same tone of voice one would use to discuss impending root canal |
| Forsey admits that Sports Direct needs to engage better with shareholders, and strengthen its corporate communications arm. That’s on top of improving conditions for workers. | Forsey admits that Sports Direct needs to engage better with shareholders, and strengthen its corporate communications arm. That’s on top of improving conditions for workers. |
| 11.35am BST | 11.35am BST |
| 11:35 | 11:35 |
| Standard Life votes against Sports Direct directors | Standard Life votes against Sports Direct directors |
| NEWSFLASH: We understand that Standard Life, the second largest shareholder at Sports Direct, has voted against reappointing the company’s non-executive directors. | NEWSFLASH: We understand that Standard Life, the second largest shareholder at Sports Direct, has voted against reappointing the company’s non-executive directors. |
| It has also voted against the pay report, my colleague Sean Farrell reports: | It has also voted against the pay report, my colleague Sean Farrell reports: |
| Standard Life, biggest Sports Direct shareholder after Ashley, has voted against all non-execs and remuneration report. | Standard Life, biggest Sports Direct shareholder after Ashley, has voted against all non-execs and remuneration report. |
| Euan Stirling, Standard Life's governance head, will tell AGM stronger board needed, esp in "crucial role of chairman". | Euan Stirling, Standard Life's governance head, will tell AGM stronger board needed, esp in "crucial role of chairman". |
| 11.33am BST | 11.33am BST |
| 11:33 | 11:33 |
| Workers will be pleased to hear that a nurse and a welfare officer are (finally) being hired. Back in June, MPs heard that one Sports Direct worker actually went into labour on site, because she was afraid to take time off. | Workers will be pleased to hear that a nurse and a welfare officer are (finally) being hired. Back in June, MPs heard that one Sports Direct worker actually went into labour on site, because she was afraid to take time off. |
| 11.32am BST | 11.32am BST |
| 11:32 | 11:32 |
| Onto the scandalous conditions at Shirebrook. | Onto the scandalous conditions at Shirebrook. |
| Hellawell admits that Sports Direct failed its staff -- and singles out the HR operation for particular criticism. | Hellawell admits that Sports Direct failed its staff -- and singles out the HR operation for particular criticism. |
| He also confirms that the Six Strikes policy, which penalised staff for offences such as ‘excessive toilet breaks’ and ‘chatting’ has been axed. | He also confirms that the Six Strikes policy, which penalised staff for offences such as ‘excessive toilet breaks’ and ‘chatting’ has been axed. |
| "We will stop anything we believe is unfair to our workforce" says Hellawell who admits Sports Direct was failing its workforce | "We will stop anything we believe is unfair to our workforce" says Hellawell who admits Sports Direct was failing its workforce |
| Sportsdirect chair says "it's clear we are failing in many ways in HR. We're going to beef up HR, provide a nurse & welfare officer" | Sportsdirect chair says "it's clear we are failing in many ways in HR. We're going to beef up HR, provide a nurse & welfare officer" |
| Updated | Updated |
| at 11.32am BST | at 11.32am BST |
| 11.29am BST | 11.29am BST |
| 11:29 | 11:29 |
| Hellawell says Sports Direct’s directors genuinely want a worker to join them on the board (a move Ashley announced last night) | Hellawell says Sports Direct’s directors genuinely want a worker to join them on the board (a move Ashley announced last night) |
| SportsDirect chair says board fully supports a workers rep on the board "someone who's not afraid 2 stand up 2 a load of suits" @BBCBusiness | SportsDirect chair says board fully supports a workers rep on the board "someone who's not afraid 2 stand up 2 a load of suits" @BBCBusiness |
| He also defends using a company owner by Mike Ashley’s brother, John, to deliver Sports Direct stock overseas -- a deal which one investor said “doesn’t look very good”.... | He also defends using a company owner by Mike Ashley’s brother, John, to deliver Sports Direct stock overseas -- a deal which one investor said “doesn’t look very good”.... |
| He says in hindsight it should have disclosed that Ashley's brother was behind Barlin, a logistics company, that supplies services to SD | He says in hindsight it should have disclosed that Ashley's brother was behind Barlin, a logistics company, that supplies services to SD |