Frasers Group: keeping it in the family

Mike Ashley is passing the reins of his high street empire to his prospective son-in-law

Mike Ashley
Mike Ashley
(Image credit: Michael Regan/Getty Images)

“Few figures have ruffled the feathers of the City establishment” quite like Mike Ashley – the unpredictable “tracksuit and trainer tycoon” who founded Sports Direct and built the sprawling high street empire Frasers, said Ben Marlow in The Daily Telegraph. News of his exit has ruffled some more. The bombastic entrepreneur is quitting as CEO, in favour of the group’s “head of elevation” Michael Murray, 31, a relatively inexperienced consultant who doubles as Ashley’s prospective son-in-law. “Let’s hope he goes through with the marriage or there’ll be some awkward board meetings.”

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