UK businessman Mike Ashley to step down as Frasers’ director

Published by
Reuters UK

By Radhika Anilkumar (Reuters) -Mike Ashley, one of Britain’s best known and most outspoken business leaders, will step down as a director at sportswear and fashion retail group Frasers in October, months after handing over the CEO role to his daughter’s partner. Ashley, 57, will leave the board of the business empire he started from a single shop in the 1980s on Oct. 19 and provide the company with 100 million pounds ($114 million) of additional funding as he does so, Frasers said on Tuesday. “It is clear that the Group has the right leadership and strategy in place and I feel very confident …

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