Mike Ashley, who founded Frasers Group, has promoted his younger daughter as a director in his expanding retail empire, The Times has reported.

Mike Ashley’s younger daughter Matilda Ashley is now a director of Mash Holdings, which controls his stake in Frasers Group and other companies.

Matilda Ashley, who was director of her own beauty business Double Take, has stepped away from the company. Double Take, which owns SportFX and is stocked in Sports Direct, was bought by Frasers for £1 last year without informing shareholders.

The company was funded through the pandemic with cash and loans from Mash Holdings.

Her appointment adds to the increasing number of Ashley’s family members part of the Frasers Group. Chief executive Michael Murray is married to Ashley’s oldest daughter Anna and was appointed to his role two years ago.

Matilda Ashley’s boyfriend David Al-Mudallal was appointed as chief operating officer and a board member of the group in April this year.

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