Transition of CEO Role

RNS Number : 6288H
Frasers Group PLC
05 August 2021
 

Date: 5 August 2021

 

Frasers Group Plc

("Frasers Group" or the "Company")

 

Transition of CEO Role

 

The board of Frasers is now in discussions with regards to transitioning the CEO role from Mike Ashley to Michael Murray over the course of FY22. It is currently proposed that Michael Murray will assume the role of CEO on 1 May 2022. A reward and remuneration package is now under consideration on the assumption Michael Murray will assume the CEO role. Any reward and remuneration package will be subject to any requisite shareholder approval.

 

The group's elevation strategy is transforming the business and receiving positive feedback from consumers and our brand partners, especially on projects such as the new Oxford Street Sports Direct which opened in June 2021.

 

The board consider it appropriate that Michael leads us forward on this increasingly successful elevation journey.

 

Should Michael Murray assume the CEO role, Mike Ashley would step down from the CEO role at the same time but would remain on the board as an executive director.

 

This announcement contains inside information.

 

 

Ends.

 

 

Frasers Group Plc                        T. 0344 245 9200

Tom Piper, Company Secretary   E. investor.relations@frasers.group

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCEAAPLEEEFEAA
UK 100

Latest directors dealings