Mike Ashley’s retailer branded an embarrassment to corporate governance by Pirc
Mike Ashley’s Sports Direct has been labelled “an embarrassment to UK corporate governance” after a chaotic announcement of its annual results last week, including multiple delays and the shock revelation of a £605m tax bill.
Investors and analysts pointed to poor performance at Sports Direct’s core chain, a string of ill-advised acquisitions, the exit of several senior executives and a £5.35m pay award to Michael Murray, Ashley’s daughter’s partner who acts as a property consultant to the group, as evidence of a company with poor governance controls.Continue reading...
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