Mike Ashley, British retailer Frasers' founder and 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.
Mike Ashley, the Sports Direct entrepreneur, is preparing to step back from his high-profile role as CEO of his growing retail empire. He’ll hand control to his future son-in-law Michael Murray, the Telegraph reported.
And the Sports Direct growth story continues. Fresh from announcing a major retail push into Europe and a “trail-blazing” remodelled store in London, the UK sportswear chain has also opened a new flagship in Leicester.
Floodgates for the Sports Direct brand are about to open with the retailer heading for a “huge push” into Europe. The brand aims to open flagship stores in “all” capital cities in Europe as part of a five-year plan.
It’s being billed as a £10 million ‘trailblazer’. Sports Direct is reopening its flagship store on London’s Oxford Street following a major refurbishment with a “modern, innovative, and sleek new look".
Sports Direct has launched a £6 million summer football ad campaign ahead of this month's European Championships. Entitled ‘Just A Game?!’, the ad takes fans on a light-hearted journey through the meaning of football.
Is the UK's Frasers Group about to make a bid for Hugo Boss? Some investors in the latter seem to think so as its shares jumped on Friday on speculation that shareholder Frasers has ambitions to take control.