Sports Direct International Plc’s (LON:SPD) majority owner and chairman is to be the company’s front man, taking over the role of chief executive from under fire Dave Forsey.
The management changes come in the wake of a series of high profile investigative reports in the UK media, regarding working practices and employment conditions within the organisation.
But it has now been confirmed that the leisurewear magnate and Newcastle United owner will take the reins himself, ac chief executive.
Forsey, who has worked at Sports Direct for more than 30 years, has agreed to “to facilitate a smooth handover of his responsibilities”, the company said.
In a statement Forsey said: "I have given my entire working life to the Company and in return the company has given me amazing opportunities and experiences. I wish everyone at Sports Direct well in the future."
Ashley, meanwhile, added: “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."