TIDMFRAS

RNS Number : 6288H

Frasers Group PLC

05 August 2021

Date: 5 August 2021

Frasers Group Plc

("Frasers Group" or the "Company")

Transition of CEO Role

The board of Frasers is now in discussions with regards to transitioning the CEO role from Mike Ashley to Michael Murray over the course of FY22. It is currently proposed that Michael Murray will assume the role of CEO on 1 May 2022. A reward and remuneration package is now under consideration on the assumption Michael Murray will assume the CEO role. Any reward and remuneration package will be subject to any requisite shareholder approval.

The group's elevation strategy is transforming the business and receiving positive feedback from consumers and our brand partners, especially on projects such as the new Oxford Street Sports Direct which opened in June 2021.

The board consider it appropriate that Michael leads us forward on this increasingly successful elevation journey.

Should Michael Murray assume the CEO role, Mike Ashley would step down from the CEO role at the same time but would remain on the board as an executive director.

This announcement contains inside information.

Ends.

   Frasers Group Plc                        T. 0344 245 9200 
   Tom Piper, Company Secretary    E. investor.relations@frasers.group

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(END) Dow Jones Newswires

August 05, 2021 02:10 ET (06:10 GMT)

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