Aug 16, 2018

Mike Ashley shows marmalade-dropping restraint on pay

The easy way to make MPs and City coves drop their toast and marmalade is to dub Mike Ashley, the ursine boss and 61 per cent owner of Sports Direct, as a flag carrier of good governance. There are the frankly odd arrangements with family members, including the £11m Mr Ashley hoped to pay his brother John until other shareholders vetoed the plan. The Sports Direct comment on exec pay is refreshing, too. Mr Ashley - who did without a permanent finance chief for five years - may not think much more is needed than that the new FD sits by his side as the only other executive in board meetings. Paying too little distorts behaviour as much as paying too much.

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