Mike Ashley has taken over the running of Sports Direct following the shock resignation of his long-standing chief executive. Dave Forsey quit after months of controversy over employee working conditions and falling financial performance. The billionaire founder and majority shareholder of the embattled retailer, takes over the role immediately. The news will come as a shock to the City because Mr Forsey has spent his entire working career at Sports Direct and was often considered better able to interact with the City than the gaffe-prone Mr Ashley. Mr Forsey’s resignation is the latest blow for the retailer, which has been…

Source: The Times September 23, 2016 07:52 UTC