Mike Ashley has finally hired a CFO and has forecast other investor-pleasing changes. But nothing would please investors more than a new chairman
Skip over a few details in Sports Direct’s full-year results statement and you can almost think the founder and chief executive, Mike Ashley, wants to turn the business into a conventional public company a decade after its arrival on the stock exchange.
Look, he’s finally hired a permanent finance director, one Jon Kempster, after three years of stand-ins. After a year in which profits fell almost 60%, Ashley is also making an investor-pleasing forecast of improvements in the pipeline: top-line earnings are predicted to improve 5-15% this year. And, just like a regular boss, he’s got a misleading corporate slogan – “the Selfridges of sport.”
Related: Mike Ashley brushes off 60% dive in profits as shares in Sports Direct rise
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