Dave Forsey is set to return to the Frasers Group, aiming to drive its international expansion.
- Forsey previously served as CEO of Sports Direct and is well-known as Mike Ashley’s trusted associate.
- In his new role, Forsey will be stationed in Malaysia but frequently visit the London office.
- Frasers Group has recently adjusted its profit outlook due to a decline in sales and pre-tax profit.
- Forsey’s appointment coincides with changes in leadership as the company navigates these challenges.
Dave Forsey is returning to the Frasers Group to steer the company’s international growth, focusing on the Asia Pacific, Middle East, and Africa regions. Given Forsey’s lengthy association with Mike Ashley as a formidable ally, his appointment marks a significant shift for the group. Having started his career at Sports Direct as a part-time weekend worker, Forsey rose to become its CEO, working his way up over three decades. His tenure as CEO concluded in 2016, amid controversies related to employment contract practices and staff wages.
In his upcoming role, Forsey will operate out of Malaysia, travelling to the London headquarters every two months to consult with the management team. This move underscores the strategic importance of the APMEA markets to Frasers Group’s future ambitions.
Forsey’s return to Frasers coincides with a challenging financial period for the company. In the recent financial disclosures, Frasers Group reported a reduction in profit expectations, adjusting the anticipated range to between £550 million and £600 million. This was attributed to an 8% drop in sales over 26 weeks ending 27 October, and a considerable fall in pre-tax profit by 33%, standing at £207.2 million compared to the previous year’s £310.2 million.
The company cited adverse foreign exchange fluctuations and a decline in the share value of Hugo Boss as factors affecting these financial outcomes. On an adjusted basis, the pre-tax profit saw a slight decline of 1.5% to £299.2 million.
Forsey’s experience at Revolution Beauty as managing director, which followed his tenure at Sports Direct, equips him with unique insights into driving growth in competitive markets. Frasers Group has confirmed his return but refrained from further comment on the details of his role.
Dave Forsey’s return to Frasers Group as general manager for APMEA is a strategic move as the company seeks to bolster its international operations amid financial challenges.
