Mike Ashley set to step down from CEO role at Frasers - report

By

Sandra Halliday

Published
Aug 4, 2021

Mike Ashley, the Sports Direct entrepreneur and retail billionaire, 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.

Ashley is expected to take the role of deputy chairman of the listed company he heads, Frasers Group, in an announcement that may come this week, the report added.

Murray is the group’s “head of elevation” and has been the focal point of much of the publicity around its expansion plans in recent periods. When it opens a new upscale store, it’s Murray who is the spokesperson, rather than Ashley.

And Murray seems to have been making an impact, easing some of the scepticism that surrounded his original appointment and ongoing role at the business. He’s been a major driving force behind the firm’s modernisation and its move upmarket that seems to be paying off for the company as business improves.