The former boss of JD Sports Fashion will collect £5.5 million after the sportswear retailer agreed exit terms that prevent him from working for rivals or soliciting its employees.
Peter Cowgill, who will also be eligible for an annual bonus, ran the sports retailer from 2004 until his ousting in May this year after a series of own goals that fuelled City concern over the dual role he had held as executive chairman since 2014.
The main element of the exit agreement is the replacement of the “very limited provisions” in Cowgill’s 18-year-old contract by restrictive covenants entitling him to receive £3.5 million over two years.
For the duration of that period Cowgill, 69, will be prevented from working for — or advising — any
