Mike Ashley’s daughter to head UK retail business

Mike Ashley is continuing to bring more family into his rapidly expanding business. This time, the fashion and real estate mogul has appointed his daughter, Matilda Ashley, to head his UK retail empire.

According to Bloomberg, Matilda has been promoted to director of Mash Holdings, which controls Ashley’s stake in Frasers Group and other associated companies. The news was confirmed in a filing to the UK’s Companies House.

She joins the company from Double Take, her own Mash-funded cosmetics brand which had been bought by Frasers last year and that she had previously served as the director of.

Matilda’s appointment follows similar decisions by Ashley to integrate more family members into the Frasers business. While his son-in-law Michael Murray was named chief executive officer back in 2021, Matilda’s boyfriend David Al-Mudallal is the group’s current chief operating officer.

Such moves have previously drawn scrutiny from shareholders due to allegations of nepotism and concerns over corporate governance.

Mash Holdings Limited Group holds 70.6 percent of Frasers Group shareholding, with the company accounting for 99.99 percent of its turnover, and 100 percent shares of McGrove Developments Limited.