Sports Direct chief exec to give up £4m bonus

Mike Ashley has admitted for the first time that Sports Direct’s controversial security procedures at its Shirebrook warehouse could be altered and that the firm’s chief executive will waive a £4m bonus.

The move comes as Ashley prepares to face a parliamentary select committee today after allegations that the searches, which are conducted on unpaid time for staff, might have lead to employees working for less than the national minimum wage.

MPs on the business, innovation and skills select committee have been trying to question Ashley over the allegations for some time. He finally relented over the weekend.

Dave Forsey, Sports Direct’s chief executive is set to give up his £4m bonus in a move that is designed to quell unrest at shareholders who have seen the value of their investment fall as the controversy has gone on.

The Unite union is also set to give evidence to the committee today, having called the working practices “Victorian”.

Reports show that in a letter to staff that Ashley says he is appearing because he has “always believed that we have nothing to hide.”