Mike Ashley’s Frasers Group hires former HS2 and HMRC boss
Mike Ashley‘s retail empire Frasers Group has hired the former chair of HS2 and CEO of HMRC to its board.
The owner of Sports Direct and House of Fraser has tapped Sir Jon Thompson, who is also a former CEO of the Financial Reporting Council, as a non-executive director.
The move comes after the appointment was first announced earlier this year.
The hiring of Sir Jon was confirmed in February alongside Helen Wright, global CEO at Sergio Rossi, and Frasers’ chief operating officer David Al-Mudallal, in addition to Ger Wright, its managing director of sports.
Sir Jon joins as the former chief executive of the Financial Reporting Council, having led the major transformation of it following multiple independent audits.
His previous roles have also included permanent secretary of the Ministry of Defence. He has also had a career in finance.
Frasers Group chair David Daly said: “We are delighted to welcome Sir Jon to the board.
“I know that we will benefit from his vast experience and leadership which will continue to enable the future success of the elevation strategy.”
Chief executive Michael Murray added: “I am pleased to welcome Sir Jon to the board at a very exciting time for Frasers Group.
“His appointment reflects the progress we have made to date on Frasers’ transformation and elevation strategy, as well as our ambitions for the future.
“Sir Jon’s expertise in corporate governance and major project management will be invaluable as we enter the next phase of our strategy.”
At the end of May, Mike Ashley’s Frasers Group has upped its stake in fashion brand Hugo Boss, bringing its total share in the company to £305m.
The Sports Direct owner now controls 2.47 per cent of the company’s shares, or 16.4 per cent when accounting for shares via the sale of put options.
Frasers Group previously cut its large stake in the company at the start of 2023, bringing its total investment in the group from £770m to £580m.