New Frasers boss Michael Murray vows to build bridges with the City 

Frasers Group’s boss has promised to rebuild bridges with the City after taking the reins from his billionaire father-in-law. 

Michael Murray – who is married to Mike Ashley’s daughter Anna and became chief executive of the Sports Direct owner in May – said Frasers would be ‘increasing its efforts’ to shore up relations with analysts and investors. 

Frasers will have a capital markets day, where shareholders can meet bosses and hear more about a firm’s plans. 

Ashley repeatedly drew criticism from City figures over his management of the group. 

His company also lost millions on a series of investments in firms which went bust, including Debenhams. 

Shares climbed 5.4 per cent, or 44p, to 856p.