More drama at Sports Direct
Billionaire Mike Ashley has now become the chief executive of beleagured retailer Sports Direct after Dave Forsey handed in his resignation.
Speaking about Forsey, Ashley said: “I feel like I have lost my right arm, but I do hope to have the opportunity to work with Dave again in the future.”
“I have given my entire working life to the company and in return the company has given me amazing opportunities and experiences,” Forsey said. “I wish everyone at Sports Direct well in the future.”
Sports Direct has also promoted Karen Byers, the head of retail, to global head of operations and Sean Nevitt, head of buying, is now global head of commercial.
Analysts are shocked by the move and said Sports Direct could face more trouble in the future.
Independent retail analyst Nick Bubb said: “Poor old Dave Forsey may have fallen on his sword, but he did act as a human shield to Mike Ashley and it is not clear how somebody who admitted to MPs a few months ago that the Sports Direct business was getting too big for him will get on with now being the real CEO.”
The news comes as the retailer”s working practices are under scrutiny and a second review is set to begin.
Ashley, who is also the owner of Newcastle United Football Club, admitted the retailer’s working conditions should be improved.
“You would be surprised how little I knew about what was going on and that’s really where the failing was,” he told the BBC last week.
“How do I know what a night shift does from 12 at night to seven or eight in the morning? I don’t work there on Saturdays and Sundays and there are lots of hours I am not there.
“Should I have known more? Yes. Was I aware of the some of the things that were going on? Absolutely not.”