Struggling retailer JJB Sports’ chief executive Keith Jones has stepped down from his role after a string of profit warnings and a call for emergency fundraising last week.
Jones, who has been running JJB since March 2010, will stay on in an advisory capacity until the end of August.
The retailer is in advanced discussions to appoint an interim chief executive.
JJB has suffered slumps in sales and profits in recent years, and has undertaken two company voluntary arrangements to shed hundreds of stores.
Earlier this year the retailer struck a deal with Dick’s Sporting Goods, the giant US retailer, which took a stake in JJB.
JJB revealed this month that chairman Mike McTighe would step down to be replaced by Bob Corliss, a veteran of the US retailer Athlete’s Foot.
Corliss said: “On behalf of all the board I would like to thank Keith for his tireless efforts to rescue JJB and return it to commercial health. During his time at JJB, Keith helped to secure vital additional funding for the business and significantly strengthened relations with our major supplier partners. “
Corliss formally takes on the role of chairman on September 1.