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Mike Ashley takes over as chief executive of Sports Direct after Dave Forsey resigns | |
(35 minutes later) | |
Mike Ashley, founder and majority shareholder of retailer Sports Direct, will take over as chief executive of the scandal-hit group following the resignation of Dave Forsey. | |
Ashley will take over the role with immediate effect. | |
The management change comes after months of growing pressure on the company, which has been criticised for its working conditions and poor corporate governance. | |
In a statement released on Friday, Ashley said: "I feel like I have lost my right arm, but I do hope to have the opportunity to work with Dave again in the future." | |
The announcement does not make clear why Forsey has decided to leave the company after working there for more than 30 years. | |
Dave Forsey said: “I have given my entire working life to the company and in return the company has given me amazing opportunities and experiences.” | Dave Forsey said: “I have given my entire working life to the company and in return the company has given me amazing opportunities and experiences.” |
The news was announced just days after Sports Direct bowed to pressure and pledged to undertake an independent review of working practices and corporate governance. | |
The decision to undertake the review was made after independent shareholders rebelled at the retailer's annual general meeting earlier this month, with 53 per cent opposing the re-election of Chairman Keith Hellawell. | |
MPs compared working practices at Sport Direct’s Shirebrook warehouse to a “Victorian workhouse” in a scathing report into working conditions released earlier this year. | |
Ashley, in his first TV interview since the release of the report, said Sports Direct had paid out £200 million in bonuses over the last 5 years, claiming to have even given a cleaning lady a bonus of £80,000. | |
He also defended his use of private planes and helicopter while his employees were paid less than minimum wage. | |
Ashley said it would take more than a year to fix the problems at his company. | Ashley said it would take more than a year to fix the problems at his company. |