Shareholders lose faith in Sports Direct founder Mike Ashley

Posted by Aktis Team on 11 September 2019

Sports Direct founder, Mike Ashley, who owns 62% of the company, is being criticized by investors for decisions made in the last few years. The unsuccessful acquisition of House of Fraser, delayed publishing of the company results as well as struggles with appointing a new auditor are the main issues cited. Shareholder ISS referred to "material failures of governance and risk oversight, many of which remain unresolved" and suggested to vote against Mr Ashley’s re-election.

BBC News, Unknown, 11th September 2019

Topics: News Watch, UK