March 7, 2019 / 6:41 PM / 19 days ago

Mike Ashley to drop Sports Direct roles to run Debenhams

March 7 (Reuters) - Sports Direct Chief Executive Mike Ashley plans to leave his current role and the retailer’s board to focus on running British department store group Debenhams, the company said in a statement on Thursday.

Sports Direct, which owns a near 30 percent stake in Debenhams, said it was calling for a general meeting of Debenhams shareholders to remove all but one of the existing board members and appoint Ashley to an executive role.

He would then forego his position as chief executive of Sports Direct, the discount sports goods and clothing powerhouse he has built into one of Britain’s most recognisable retail names. (Reporting by Muvija M in Bengaluru; editing by Patrick Graham)

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