Mar 7, 2019

Sports Direct seeks to remove Debenhams board

Sports Direct has said it want to remove all the current members of the Debenhams board except one, and appoint its boss Mike Ashley to run the business. If Mr Ashley were appointed to the Debenhams board he would step down from his roles at Sports Direct. In a statement, Sports Direct said it had called a general meeting of Debenhams to appoint Mr Mike Ashley to the board of directors of Debenhams, and to remove all of the current members of the Debenhams board. It said that if Mr Ashley were to be appointed to the board of directors of Debenhams "During this business critical period for Debenhams", Mr Ashley would carry out an executive role, and would focus on the Debenhams business, "Including building a strong board and management team". Mr Ashley, who founded Sports Direct, has been taking an increased interest in Debenhams.

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