Sep 29, 2021
Frasers: New boss of Sports Direct group could net £100m
He'll get the bumper bonus if the company's shares reach £15 in the next four years. He is due to become chief executive on 1 May 2022.Mr Murray is engaged to be married to Mr Ashley's daughter Anna and will receive the £100m bonus if the £15 share target is reached for a consecutive 30-day period at any point over the next four years. The company's shares are currently trading just below £7 and reached an all-time high of more than £9 in April 2014.It listed its shares on the stock exchange in 2007, with shares priced at £3.Shareholders were given the chance to vote on the deal and a number of other issues during Wednesday's annual general meeting. Frasers said the new share bonus scheme had targets which were both "Stretching and achievable". When announcing the package last month it said: "The board believes that the significant increase in value of the shares to be achieved before Michael's share option award vests is suitably challenging but achievable and would be evidence of the success of the group's elevation strategy and Michael's leading role in this."
Make a complaint about Sports Direct by viewing their customer service contacts.