Hedge fund manager Crispin Odey backs embattled Sports Direct CEO Mike Ashley.
Mike Ashley, the chief executive of Sports Direct and its largest stock holder, has praised investor Crispin Odey for increasing his stake in the business while controversy over corporate governance continues to dog the company.
Odey, a hedge fund manager, increased his stake in Sports Direct to more than 5% last week, and voted for the retention of chairman of Keith Hellawell—even though a majority of independent shareholders voted against. Hellawell retained his position after Ashley, who owns more than 55% of the business, used his
For thoughtful journalism, expert insights on corporate governance and an extensive library of reports, guides and tools to help boards and directors navigate the complexities of their roles, subscribe to Board Agenda