Dave Forsey, former CEO of Sports Direct, returns to Frasers Group, assuming a pivotal role in its international expansion.
- Forsey, once Mike Ashley’s right-hand, will manage the APMEA regions, based in Malaysia with regular visits to London.
- His return follows a career that began at Sports Direct and saw him step down amid controversies in 2016.
- Frasers Group’s recent financial performance highlights challenges as profits dropped, impacting their strategic moves.
- While Frasers confirmed Forsey’s return, the group declined further comments on his appointment.
Dave Forsey, formerly the chief executive of Sports Direct, is making a surprising comeback to the Frasers Group. He has been appointed to lead the company’s international expansion efforts, specifically focusing on the Asia Pacific, Middle East, and Africa (APMEA) regions. Forsey will be based in Malaysia, but his role will necessitate regular visits to Frasers’ London office every two months.
Forsey’s career trajectory has been closely linked with his tenure at Sports Direct, where he began as a weekend worker at the age of eighteen. Over three decades, he rose through the ranks to become CEO alongside Mike Ashley. However, in 2016, Forsey resigned following controversies related to the use of zero-hour contracts and underpayment of warehouse staff.
After leaving Sports Direct, Forsey transitioned to consultancy and later served as managing director for Revolution Beauty until February 2023. His return to Frasers marks a significant shift after a year without major corporate roles.
Frasers Group’s financial landscape has shown some turbulence recently. The company’s yearly profit outlook has been adjusted downwards following an 8% decline in group sales over a 26-week period ending 27 October. Additionally, the pre-tax profit experienced a sharp decline by 33% compared to the previous year, influenced by foreign exchange rates and a decrease in Hugo Boss’ share price.
Despite these fiscal challenges, Forsey’s reappointment signifies a strategic move to strengthen Frasers’ position across key global markets. The company has confirmed his new role, though it has refrained from further commentary on the implications this appointment might carry.
Dave Forsey’s return to Frasers Group highlights the firm’s strategic focus on expanding its international footprint amidst financial challenges.
