Britain's Frasers says Mike Ashley set to step down as CEO next year
05/08/2021 07:16
LONDON, Aug 5 (Reuters) - Mike Ashley, British sportswear
retailer Frasers' FRAS.L biggest shareholder, will likely step
down as chief executive next year and be succeeded by Michael
Murray, the group's "head of elevation", it said on Thursday.
"The board of Frasers is now in discussions with regards to
transitioning the CEO role from Mike Ashley to Michael Murray
over the course of FY22," it said. "It is currently proposed
that Michael Murray will assume the role of CEO on 1 May 2022."
Ashley, who founded the firm that was previously called
Sports Direct in 1982 and retains 64% of its equity, will remain
an executive director.
(Reporting by James Davey; editing by Guy Faulconbridge)
((james.davey@thomsonreuters.com))