Tuesday 27 September 2016

Sports Direct names controlling shareholder Mike Ashley as CEO

Published 23/09/2016 | 07:27

Sports Direct founder Mike Ashley. Photo: Reuters
Sports Direct founder Mike Ashley. Photo: Reuters

Britain's Sports Direct, the retailer trying to mend its battered image, named its billionaire founder and controlling shareholder Mike Ashley as chief executive after Dave Forsey resigned, it said on Friday.

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Sports Direct has recently launched a review responding to heavy criticism from lawmakers after it effectively paid workers less than the minimum wage, and by shareholders for poor corporate governance.

The 450-store sportswear chain said that Forsey would be replaced by Ashley, who will move to the CEO position from his previous role as executive deputy chairman.

Reuters

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