The former CEO of the Financial Reporting Council Sir Jon Thompson has been brought onto the board of Mike Ashley’s Frasers Group, as it brings in “new high-calibre directors”.
Frasers announced Thompson would be made a non-executive director, alongside Helen Wright, Global CEO at Sergio Rossi, and Frasers’ chief operating officer David Al-Mudallal, in addition to Ger Wright, its managing director, sports.
The appointments come as Frasers has been embarking on a series of acquisitions and share purchases, with the most recent being Hornby on Friday.
The owner of Sports Direct and House of Fraser acquired more than 11 million shares in the Kent-based company, taking its total holdings to more than 15 million, or 8.9 per cent.
In the last month, it has also made investments in Boohoo, Asos, Currys, AO and N Brown.
Sir Jon Thompson joins as the former chief executive of the Financial Reporting Council, having led the major transformation of it, following multiple independent audits.
Sir Jon’s previous roles include Chair of HS2, CEO of HMRC, and Permanent Secretary of the Ministry of Defence. He has also had a career in finance and will be appointed later in the year when other commitments end.
David Daly, Chair of the Board, Frasers Group, said: “Much has changed at Frasers over recent years and today is another significant milestone in our transformation as we welcome new high-calibre individuals to the Board.”
“I know that we will benefit from their leadership and expertise. I’m also delighted that their appointments further diversify our Board, ensuring that we have the range of skills and views required to enable the future success of the elevation strategy,” he added.
Michael Murray, chief of Frasers, said: “Today’s appointments reflect the progress we have made to date on Frasers’ transformation… as well as our ambitions for the future of the Group.”
“I am pleased to welcome Helen Wright to Frasers and to the Board and very much look forward to welcoming Sir Jon later this year.”