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Frasers investors back 100 million stg share scheme for next CEO By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO : Group Head for Elevation at Frasers Group Michael Murray poses for a picture in this undated handout photo obtained by Reuters August 5, 2021. Frasers Group plc/Handout via REUTERS

LONDON (Reuters) – Shareholders in British sportswear retailer Frasers Group on Wednesday backed a new executive share scheme which could earn its chief executive designate Michael Murray 100 million pounds ($137 million).

Frasers, which was formerly called Sports Direct (LON:) and is controlled by founder Mike Ashley, said last month that Murray would succeed Ashley as CEO on May 1 next year.

Ashley’s daughter is Murray’s partner. He currently serves as Frasers’ head of elevation.

The bonus scheme was supported by 86.6%, and opposed by 13.4% at the annual investor meeting.

Ashley holds 64%.

($1 = 0.7311 pounds)

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