Mike Ashley to step down from leading Sports Direct Group

It is believed Mr Ashley will hand the reins to his future son-in-law.

Sports Direct founder Mike Ashley has announced he is to step down from leading his retail empire, which has its head office in the East Midlands.

It is believed Mr Ashley will hand the reins to his future son-in-law.

The board of Frasers Group, which also owns House of Fraser, revealed that said talks were taking place with 31-year-old Michael Murray, who is tipped to succeed the billionaire on 1 May 2022.

Murray is engaged to be married to Mr Ashley’s daughter Anna, and is currently “head of elevation” at Frasers.

If the move goes ahead, Mr Ashley will step down from as chief executive but remain on the board as an executive director.

Mr Ashley founded Sports Direct in 1982 and retains 64% of the group.

In stock market statement, Frasers Group said it was “currently proposed” that Mr Murray would assume the role of chief executive, with a “reward and remuneration package” now being considered.

“The board consider it appropriate that Michael leads us forward on this increasingly successful elevation journey,”

The group is now worth around £3bn and operates almost 1,000 shops.

Sports Direct has its head office in Shirebrook in Nottinghamshire.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Previous Article
Uber Eats

Uber Eats customers in the East Midlands can now see how many calories are in their favourite pizza and burgers 'so they can make better choices'

Next Article
Kinder Scout

Police appeal as man exposes himself to walker on Kinder Scout in Derbyshire

Related Posts