New Sports Direct boss asserts Mike Ashley is ‘not pulling the strings’ amid of price increase warning
Sports Direct’s new chief has asserted that the retailer’s former boss and his future father-in-law is “not pulling the strings.”
In his first interview since stepping into Mike Ashley’s shoes as chief executive of Frasers Group, Michael Murray warned prices would likely go up.
The high street titan was facing headwinds “going through the roof,” amid soaring inflation, Murray told the BBC.
After serving a stint as the company’s head of elevation, Murray is taking the reins of the retailer at just 32 years old and is engaged to Ashley’s daughter.
However, Murray was keen to quash suggestions his personal connections had resulted in him getting the job.
“I’ve definitely proved myself and my worth to the group. I think we’ve achieved so much over the last few years. Mike would never put me up to a job which he didn’t think I could excel in because I don’t think it’d be very popular around the dinner table,” he said.
Mike Ashley stepped down from his role after decades as one of the high street’s most colourful characters.
In recent years, the former Newcastle FC owner has snapped up several British brands, as high street firms faced collapse amid the pandemic and the rise of e-commerce brands.