Long standing Sports Direct chief executive Dave Forsey has resigned from the retailer, with Mike Ashley replacing him.
Advertisement
MPs compared working practices at Sport Direct’s Shirebrook warehouse to a “ workhouse” in a scathing report into working conditions released earlier this year.
Mr Ashley previously held the position of deputy chairman despite being the majority shareholder in the company.
Forsey says in a statement: “I have given my entire working life to the Company and in return the Company has given me awesome opportunities and experiences”.
Ashley will continue to be supported by the existing executive management team, and Dave Forsey has agreed to facilitate a smooth handover of his responsibilities.
The company also appointed Karen Byers as global head of operations and Sean Nevitt as commercial head.
Ashley said it would take more than a year to fix the problems at his company.
The business breakfast live blog covers the latest big stories from the region’s business community, as well as national news, FTSE updates and stock exchange announcements from the Journal region’s listed companies and national firms – anything and everything from the world of business basically.
Forsey had been with the company for 32 years, with the last nine as chief executive.
“I’ve said sorry, I’ve said I’m going to fix it, and I will”.
Advertisement
The company has been under fire from politicians and investors after allegations of shortcomings in labour practices and inadequate corporate governance led to a vote against the reappointment of chairman Keith Hellawell at its annual general meeting. “This point is even more pertinent given much of the concern focused on Ashley’s power grip on all aspects of the retailer, a grip which has just become even stronger”.
About the Author
This author has not added a biography. Meanwhile Mike Dooley has contributed 32617 posts.
Click here
to view them.
