Soon-to-be Frasers Group CEO Michael Murray up for £100m bonus

Soon-to-be Frasers Group CEO Michael Murray up for £100m bonus
When Michael Murray becomes Frasers Group CEO next spring, Mike Ashley will step aside and remain on the board as an executive director.
// Incoming Frasers Group CEO Michael Murray could take home up to £100m in bonuses if he doubles firm’s share price
// Frasers Group’s share price would have to top £15 for 30 consecutive days before October 7, 2025
// Murray’s annual salary is also set to be £1m when he takes over from Ashley next spring

Michael Murray could take home up to £100 million in bonuses if he doubles Frasers Group’s share price after he succeeds Mike Ashley as chief executive from next year.

According to Sky News, the incoming Frasers Group boss’ pay package would be linked to the firm’s stock price performance.

Frasers Group’s share price would have to top £15 for 30 consecutive days before October 7, 2025.


READ MORE:


Its shares were trading at £6.50 when stock markets closed on Wednesday – its highest level for more than six years.

When Murray succeeds Ashley as chief executive from May next year, his annual salary is set to be £1 million.

Murray is currently head of elevation at the retail empire, whereby he is working to give its stable of retail brands a more upmarket image.

He is also engaged to Ashley’s daughter Anna.

“The remuneration committee was mindful of setting targets that were both stretching and achievable and that would reward an incoming CEO commensurately with the shareholder value that could be attained,” Frasers Group said in a statement.

The firm added that reaching a £15 share price “would be evidence of the success of the group’s elevation strategy and Michael’s leading role in this”.

The proposed remuneration package will be voted on at Frasers Group’s AGM on September 29.

When Murray steps in to the top job next spring, Ashley will step aside and remain on the board of Frasers Group as an executive director.

Click here to sign up to Retail Gazette’s free daily email newsletter

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here