Sports Direct CEO has left holding company

By

Cajsa Lykke Carlson

Published
Oct 12, 2015

David Forsey, the CEO of Mike Ashley's Sports Direct, left Ashley's holding company Mash Holdings just days before he was due to face criminal charges in court, reported The Daily Mail.

Forsey left Mash Holdings on August 1 after a decade as its company secretary. He was originally due to appear in court on August 15, but the hearing was adjourned until this week. Forsey is charged with failing to notify the authorities of a lay-off of warehouse staff in Scotland, after Sports Direct's fashion retailer USC collapsed.

Mash Holdings, which is worth £2.7bn, is Ashley's holding company for his stakes in Newcastle United and Sports Direct. After the criminal charges against Forsey became known on Friday, shares in Sports Direct fell by almost 7%.