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The Guardian - UK
The Guardian - UK
Business
Julia Kollewe

Mike Ashley to step down from Frasers Group board

Mike Ashley Frasers Frasers Group Michael Murray Sports Direct House of Fraser
Mike Ashley
Mike Ashley is to provide Frasers Group with £100m of additional funding. Photograph: Kirsty O’Connor/PA

Mike Ashley is to step down from the board of Frasers Group, which owns high street brands including Sports Direct and House of Fraser, 40 years after he opened his first sports shop in Maidenhead.

The company announced that the billionaire retail tycoon and founder of Sports Direct would not be standing for re-election as a director at this year’s annual meeting on 19 October.

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