LONDON (Reuters) – Shareholders in British sportswear retailer Frasers Group on Wednesday backed a new executive share scheme which could earn its chief executive designate Michael Murray 100 million pounds ($137 million).
Frasers, which was formerly called Sports Direct and is controlled by founder Mike Ashley, said last month that Murray would succeed Ashley as CEO on May 1 next year.
Murray, currently Frasers’ “head of elevation”, is the partner of Ashley’s daughter.
At the firm’s annual investor meeting 86.6% of votes cast were in favour of the bonus scheme, while 13.4% opposed it.
Ashley owns 64% of the equity.
($1 = 0.7311 pounds)
(Reporting by James Davey, Editing by Paul Sandle)
