Sports Direct shareholders advised to oppose re-election of Mike Ashley to the board August 21, 2016 Sports Direct's shareholders have been advised to oppose the re-election of the company's founder Mike Ashley to the board after the retailer become embroiled in a scandal over the treatment of workers. Pensions and Investment Research Consultants (Pirc) said Ashley had been "highly criticised" by the Business, Innovation and Skills (BIS) select committee for the "appalling working [...]
Sports Direct’s Mike Ashley wants to follow Theresa May’s lead and put staff on the board September 7, 2016 Mike Ashley today told shareholders at Sports Direct's annual general meeting (AGM) that one staff member from the company will be joining the board. The founder of Sports Direct said he is "absolutely in agreement with Theresa May" that there should be more staff representation at board level. The move would be a "no-brainer future [...]
Too little too late, Mike Ashley – shareholder groups shun Sports Direct’s report September 6, 2016 Sports Direct attempted to fix its tattered public image today by publishing a report on its review of working practices – but shareholder advisory groups are unmoved by Mike Ashley's last-ditch efforts to avoid an investor revolt at his company's annual general meeting. City A.M. understands that influential advisory group Glass Lewis has not changed its position [...]
ISS has reportedly joined the growing revolt against Sports Direct owner Mike Ashley August 26, 2016 Sports Direct owner Mike Ashley is facing a growing revolt and Institutional Shareholder Services (ISS) is reportedly advising investors to oppose his re-election to the retailer's board. City A.M. revealed today that fellow shareholder advisory groups Glass Lewis and ShareSoc were backing a shake-up at Sports Direct, with the former calling on investors to vote [...]
Sports Direct’s property aide jumps ship months after Mike Ashley appoints his daughter’s boyfriend to run property portfolio September 25, 2016 Sports Direct's top property lawyer has jumped ship after Mike Ashley hired his daughter's boyfriend to run the retailer's property portfolio. Allawee Albaghdadi had been at Sports Direct nearly five years, but, according to his LinkedIn profile, left the embattled company in July for commercial law firm EMW. Read more: Sports Direct chairman: I have dealt with killers, I [...]
Shareholder groups pile the pressure on Mike Ashley as new groups speak out against the retail tycoon August 26, 2016 Fresh voices are adding to calls for a shake up at Sports Direct, with investors demanding a review of corporate governance and some shareholders even urging the retailer's founder Mike Ashley to step down from the board. Ashley has faced a volley of criticism after admitting to the Business, Innovation and Skills (BIS) select committee [...]
Damning report slams Mike Ashley for “appalling” practices at Sports Direct July 22, 2016 Top MPs have launched a blistering attack on Mike Ashley’s Sports Direct, branding working practices at the company’s Shirebrook warehouse in Derbyshire as similar to those of “a Victorian workhouse”. The parliamentary Business, Innovation and Skills Select Committee, which has been investigating the retailer’s “extremely disturbing” employment practices, publishes its findings today, leaving the company open [...]
Sports Direct founder Mike Ashley is being scrutinised again after shareholders called for a board review August 25, 2016 Shareholder group Investor Forum today issued a statement to Sports Direct demanding an "independent and comprehensive review" of the board's governance practices. That again? Following rumours yesterday evening a statement was on its way, the group – which represents 12 per cent of share capital and 27 per cent of independent shareholders – took what it admitted was [...]
Mike Ashley is looking to make himself the chairman of Findel July 1, 2016 Sports Direct boss Mike Ashley is looking to become chairman of gift retailer Findel, a company Sports Direct owns a 30 per cent stake in. Sky News reported Ashley is talking to the board of Findel about the move over the past few weeks. Ashley, who recently admitted to MPs that he couldn't control Sports [...]
Consolidation is the name of the game for Mike Ashley as he see revenues increase by 20 per cent August 7, 2016 Mike Ashley's businesses generated nearly £3bn of revenues during the year to April 2015 latest filings at Companies House have shown. The Newcastle United owner consolidates his business operations into MASH Holdings Ltd – a company in which he is the sole shareholder. Its financial statements were filed on 27 July 2016. Ashley took out further lending [...]