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Insider UK
Insider UK
Peter A Walker

Fraser's chief Mike Ashley set to step down

Mike Ashley Michael Murray Frasers Frasers Group

Billionaire retail magnate Mike Ashley is to step down from the board of Sports Direct owner Frasers Group next month and has announced plans to pump £100m into the business.

Frasers said he will quit the board after the group’s annual shareholder meeting on 19 October, but will continue to act as an adviser to senior management.

Ashley will also stump up the financing package to show his “continuing strong support” for the group and its so-called 'elevation strategy'.

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