Sports Direct's failure to find new finance director a "big concern", says major investor
Mike Ashley has been hit with criticism from a major investor for failing to secure a new finance director for Sports Direct, despite the last one leaving 14 months ago.
Frasers Group
784.50p
17:08 19/04/24
FTSE 100
7,895.85
16:59 19/04/24
FTSE 350
4,341.08
17:09 19/04/24
FTSE All-Share
4,296.41
17:08 19/04/24
General Retailers
3,864.64
17:09 19/04/24
Crispin Oden, who with a 5% interest holds the third largest stake of the company's institutional investors, has said the delay is a "big concern".
The lack of a finance director "puts too much power into one person's hands", Oden told the Sunday Telegraph.
"They have got to move quickly with this," he added.
Former finance director Bob Mellors stepped down from his long-standing role at the end of 2013 for health reasons.
The most recent comment given by the company on finding his replacement was simply that the search was "ongoing".