Ashley will remain on the board as executive director
Sports Direct founder Mike Ashley has announced that he will step down from his position as head of the company.
Ashley also confirmed that he would hand the baton to his son-in-law.
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A group of Fraser Committee confirmed today that discussions are underway for Michael Murray to take over the ownership of Newcastle United FC. He appears ready to take the reins on May 1, 2022.
Despite Ashley resigning as CEO, he plans to remain on the board as executive director.
Founded Sports Direct in 1982, Mogul owns 64% of the company.
Murray, the fiancé of Ashley’s daughter Anna, currently works as the “head of elevation” at Fraser. His role involves modernizing the store.
According to the company’s statement, “The group’s elevation strategy has transformed its business and has received positive feedback from consumers and brand partners, particularly on projects such as the new Oxford Street Sports Direct, which opened in June 2021. .”
“The board considers it appropriate for Michael to move us forward on this increasingly successful elevation journey.”
Frasers Group is currently worth around £3 billion and has around 1,000 stores.
The FTSE 250 company’s share price fell 0.57% in news that occurred on Thursday. However, we have added 133.04% over the past 12 months.
