Ashley slams ‘unfit for purpose’ UK corporate governance after Studio acquisition

Mike Ashley, Frasers Group boss and Sports Direct founder

Frasers Group boss Mike Ashley has lashed out at both the previous management of Studio and the UK’s corporate governance regime after saving the floundering fashion retailer.

In a note issued to the City on Friday afternoon, Ashley lambasted the previous leadership of Studio for having “buried its head in the sand whilst the world around it changed” and slammed the UK corporate governance regime as being “clearly unfit for purpose”.

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