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Evening Standard
Evening Standard
Business
Mark Banham

Mike Ashley to stand down from Frasers board

Mike Ashley Frasers Board Michael Murray Frasers Group House of Fraser Sports Direct

Retail tycoon Mike Ashley founded Frasers Group (Nick Ansell/PA)

(Picture: PA Archive)

Industry titan Mike Ashley is to step back from Frasers Group the company he founded and that has become iconic across the retail space after 40 years at the helm.

The company, which includes the Sports Direct and House of Fraser brands, announced that its billionaire owner would not stand for re-election as a director at this year’s Annual General Meeting (AGM) and he will therefore step down from the board on October 19 this year.  

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