JD Sports has agreed a £5.5m exit deal with its former boss, Peter Cowgill.
Mr Cowgill stepped down with immediate effect in May in a move that was described "as a consequence of an ongoing review of its internal governance and controls" and a decision to "accelerate the separation" of the roles of chair and chief executive.
The Greater Manchester-headquartered group said Mr Cowgill has been paid his salary, contractual benefits and will be eligible for any appropriate annual bonus, subject to usual performance conditions, for the period up to May 25, 2022.
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The terms of the deal will see Mr Cowgill be paid £3.5m over two years for agreeing to certain limits and £2m over three years to act as a consultant.
JD Sports said: "This agreement ensures that both Andy Higginson and Régis Schultz receive his continuous support and assistance as they transition in their new roles, and more importantly give ongoing access to his unparalleled knowledge and experience in building JD into the successful company that it is today."
Mr Cowgill's departure came after JD Sports was hit with a £4.3m fine following a secret meeting with Footasylum CEO Barry Bown.
Chairman Andy Higginson said: "I am pleased that we have been able to reach this amicable and constructive way forward with Peter covering the next three years.
"Peter has hugely valuable experience built over 18 years which we do not want to lose and both Régis and I are delighted to be able to benefit from his considerable talent and advice.
"This caps off what, by any measure, has been a remarkable period of executive leadership by Peter who has been such a core part of the business's incredible success story to date.
"We are pleased to have settled the terms of his departure and more importantly, to have secured a seamless handover and access to his decades of experience, whilst best protecting our commercial interests.
"Having now separated the roles of chair and CEO, recruited a new CEO who brings a strong international and digital track record, as well as locking in the knowledge and experience of Peter, JD is well positioned for a period of continued commercial outperformance underpinned by strong corporate governance."
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