×
75 519
Fashion Jobs
ASCENA
Part Time Sales Manager
Permanent · Portage
MICHAEL KORS
Part Time Sales Supervisor
Permanent · Elmhurst
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Cary
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Dallas
KOHLS
Full-Time Loss Prevention Officer
Permanent · Fontana
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Tomball
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Chesapeake
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Linden
KOHLS
Full-Time Loss Prevention Officer
Permanent · Salinas
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Kearney
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Yardley
MACY'S
Asset Protection Officer, Bailey Road - Part Time (3840)
Permanent · North Jackson
MACY'S
Asset Protection Detective, Towson Town Center - Full Time
Permanent · Towson
MACY'S
Asset Protection Detective, Northgate - Standard Part Time
Permanent · San Rafael
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Clinton Crossing Premium Outlet
Permanent · Clinton
ABERCROMBIE AND FITCH CO.
Fit Consultant (Part-Time)
Permanent · Columbus
ABERCROMBIE AND FITCH CO.
Fit Consultant (Adult Female Size 18)
Permanent · Columbus
ABERCROMBIE AND FITCH CO.
Part-Time Security Associate
Permanent · Columbus
ABERCROMBIE AND FITCH CO.
Vice President, Diversity & Inclusion
Permanent · Columbus
ROSS STORES
Store Protection Specialist
Permanent · El Paso
ROSS STORES
Store Protection Specialist
Permanent · Gilroy
ROSS STORES
Store Protection Specialist
Permanent · Madera
Published
Sep 20, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Ashley to stand down as Frasers Group director, will provide £100m funding

Published
Sep 20, 2022

Mike Ashely, the founder of Sports Direct and latterly The Frasers Group, is to relinquish his directorships in the business. And as a departing gesture, he will provide the group with an additional £100 million in support funding.


Mike Ashley


The group has formerly announced that Ashley will not be standing for re-election as a Director at this year's Annual General Meeting and he will therefore step down from the board on the conclusion of the AGM on 19 October. However, the still-majority shareholder will continue to be available in an advisory capacity, it noted.

Meanwhile, the additional funding Ashley will provide reflects his “continuing strong support for the business and its elevation strategy”. It will be alongside and on the same commercial terms as the group's existing unsecured borrowing facilities that were announced on 1 December 2021.

His stepping down could be seen as a ringing endorsement for Michael Murray, his chosen replacement as chief executive in May. The promotion has seen Murray begin to build bridges with City financiers and stakeholders following an often fractious relationship with his former boss.

Ashley said: "Since [he] took over the leadership of Frasers Group earlier this year, the business has gone from strength to strength. It is clear that the group has the right leadership and strategy in place and I feel very confident passing the baton to Michael and his team.  

“Although I am stepping down from the board, I remain 100% committed to supporting Frasers and Michael's plans and ambitions, and I look forward to helping the team as and when they require me. My commitment and support as a Frasers' shareholder is as strong as ever."

Murray added: "Mike has built an incredible business over the past 40 years and I want to thank him for all he has done. With our new strategy and leadership team, we are driving this business forward at pace and we are all excited for the future. We are grateful to have Mike's support and expertise available to us as we continue the next stage of Frasers Group's journey."

Copyright © 2022 FashionNetwork.com All rights reserved.