Former Ikea Boss Peter Agnefjäll Named New JD Sports Chair

Peter Agnefjäll, the former boss of Ikea, has been named chair of JD Sports, stepping into the role as the FTSE 100 sportswear retailer navigates a period of slowed growth, compressed profit margins, and executive turmoil.

The leadership transition follows a tumultuous spring for the Manchester-headquartered retailer. Former chair Andy Higginson resigned in April ahead of his tenure expiring in July. Financial Times reporting revealed that Higginson’s departure followed a failed boardroom coup. Higginson had attempted to oust chief executive Régis Shultz, citing sluggish sales and stalled retail expansion across North America. However, the retailer’s majority stakeholder, Pentland Group, intervened and backed Shultz, forcing Higginson out.

Financial Pressures and Market Realities

Agnefjäll inherits a business facing significant macroeconomic headwinds. In its annual report for the year ending January, JD Sports reported a 12 percent drop in pre-tax profit down to £629m, even as total revenue climbed 12 percent to £12.7bn. Retail leadership has warned investors of muted consumer spending compounded by supply chain cost pressures stemming from the Iran war.

To account for ongoing geopolitical uncertainty, management widened its profit guidance. The retailer now forecasts pre-tax profit between £750m and £850m for the upcoming fiscal year. These widening margins highlight the complex operational environment awaiting incoming leadership.

A Proven Retail Track Record

Agnefjäll brings decades of large-scale retail experience to the blue-chip sportswear giant. He spent more than twenty years at Swedish home furnishing icon Ikea, starting as a business area manager in 2002 before serving a ten-year stint that included the role of deputy chief executive. He held the top executive post at Ikea from September 2013 for four years. In May 2026, he was also appointed as a non-executive director at WPP.

Shapland had filled the chair vacancy on an interim basis following Higginson’s abrupt exit. During Higginson’s tenure, the company expanded its physical footprint in the United States sportswear market, though prolonged domestic sluggishness ultimately ignited internal friction among board members.

As Agnefjäll prepares to take the gavel in September, market watchers will be monitoring whether his tenure stabilizes North American operations and restores margin expansion.