Mike Ashley expected to step down

sports direct
Sports Direct's CEO, Mike Ashley

Mike Ashley is expected to step down as the chief executive of Frasers Group.

The decision will be announced on Thursday, when the group reveals its latest results.

It is expected that Ashley’s son-in-law, Michael Murray, will take the job. He is currently the “head of elevation”.

Frasers Group owns Evans Cycles, Game, Jack Wills, Flannels and House of Fraser and other store brands.

Ashley has been at the helm and the chief executive of Sports Direct for 40 years.