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Mike Ashley will resign as CEO of Frasers next year.

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August 5, 2021

Mike AshleyThe founder and largest shareholder of British retailer Fraser, who will step down as CEO next year, is likely to be taken over by the group’s “promotion officer” Michael Murray, he said Thursday. ..

flannel

“The Fraser board is currently discussing the transfer of CEO role from Mike Ashley to Michael Murray during 2010,” he said.

“Currently, it is proposed that Michael Murray will assume the role of CEO on May 1, 2022.”

Ashley founded a previously called company Sports Direct In 1982, he held 64% of that stake and remained Executive Director.The company owns a chain that includes: flannel And House of Fraser.

Ashley held the title of Vice Chairman from the time Sports Direct emerged in 2007 until he became CEO in 2016. Murray is a partner of Ashley’s daughter Anna and is now its “head of promotion”.

That work was central to Fraser’s strategy of modernizing and upgrading him, the promotion strategy.

Ashley’s long-held wish is to emulate the status of a department store in London and make Fraser a “sports selfridge”.

“The Board believes it is appropriate for Michael to move us forward on this increasingly successful promotion journey,” Fraser said.

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Mike Ashley will resign as CEO of Frasers next year.

Source link Mike Ashley will resign as CEO of Frasers next year.

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