Mike Ashley has appointed his younger daughter, Matilda Ashley, as a director of Mash Holdings, the company through which he controls his large stakes in the Frasers Group and other businesses.
The move underscores the growing influence of family ties in the billionaire’s business operations.
According to recent filings to Companies House, 27-year-old Matilda Ashley has taken on the important role within Mash Holdings, which plays a pivotal role in overseeing Ashley’s extensive retail and property interests. The appointment comes after she recently resigned as director of her beauty business, Double Take, which Frasers Group reportedly acquired for £1 last year without notifying its shareholders.
Double Take, which Matilda launched in 2015, owns the SportFX cosmetics brand available in Sports Direct stores. The company has weathered the pandemic thanks to financial backing from Mash Holdings, which is believed to own the rights to SportFX’s sportswear, footwear and equipment lines. Mike Ashley has previously pledged to financially support the brand for the “foreseeable future”.
This latest family appointment could attract attention in the City, where concerns have been raised about corporate governance and cronyism. The Sunday Times recently highlighted that Matilda’s pampered boyfriend, David, is chief operating officer of the Frasers Group and has been appointed to its board, making him one of the youngest directors of a FTSE 100 company. Michael Murray, who became chief executive of Frasers in 2022 and is married to Anna Ashley, Mike Ashley’s eldest daughter, also holds a senior position within the group.
The intertwining of family and business interests in Ashley’s empire has drawn scrutiny in the past. In 2016, Sports Direct faced criticism from shareholders after it was revealed that a company owned by Ashley’s brother was being paid to handle international deliveries, a relationship that was not initially disclosed in the annual report.
Fraser Group began as a single store in Maidenhead, Berkshire, in 1982 and has grown into a retail giant with over 1,500 stores across 20 countries. The group includes high street names such as House of Fraser, Sports Direct, Flannels, Evans Cycles and Jack Wills. Although Mike Ashley stepped down from the board in 2022, he retains a 73% stake and holds a strong advisory role within the company.
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