Frasers Group shareholders have narrowly approved a £100m bonus for new boss Michael Murray, despite a sizeable rebellion.
The owner of Sports Direct and House of Fraser, led by Mike Ashley, sought approval for the pay policy at its annual meeting yesterday. The plan was voted against by 49.11% of independent shareholders, meaning Frasers only narrowly cleared the majority threshold.
Murray, who is currently in charge of Frasers’ property strategy and the fiancé of Ashley’s daughter, Anna, will receive shares worth £100m on top of his £1m salary if shares more than double in value to £15 for 30 consecutive days before 7 October 2025.
Finance director Chris Wootton could receive up to £9m.
