RSS feedsMike Ashley, the under fire founder of Sports Direct, has come under further pressure from investors who want him to replace his finance director Bob Mellors.
The Sunday Times reports that investors are pushing Sports Direct, which is touring shareholders following the release of its financial results, to axe Mellors.
Sports Direct's share price has halved since its float five months ago, and angry investors believe that replacing Mellors will resurrect the stock.
'Ashley is not as bad as he comes across,' said one investor. 'He is an impressive entrepreneur who knows the business better than anyone. But what he needs - and we need - is a proper finance director who can keep on top of the numbers.'
Mellors has come in for criticism for the way the company's financial information has been presented, with some analysts describing presentations as 'farcical'.
Ashley, however, said Mellors is essential to his business. 'Bob Mellors is a cornerstone member of the team. He has been with me since the start and losing him would only put the company back not forwards,' he said.
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