Mike Ashley’s successor, Michael Murray, will pocket the mammoth windfall if he more than doubles the Frasers Group share price.
Michael Murray, Frasers Group’s incoming chief executive due to replace Mike Ashley, could earn up to £100m in shares on top of his salary.
Mike Ashley's Frasers Group said on Wednesday it would recommend a bonus scheme for incoming chief executive Michael Murray worth 100 million pounds ($137 million) in stock if he meets a "challenging but achievable" target. Murray, who is the partner of Ashley's daughter, will receive the stock if the retailer's shares achieve a price of 15 pounds for 30 consecutive trading days before October 2025. "The board believes that the significant increase in value of the shares to be achieved before Michael's share option award vests is suitably challenging but achievable and would be evidence of the success of the group's elevation strategy and Michael's leading role in this," the company said.