Drug test executives

THE bosses of all listed companies should undergo drug tests, Mike Ashley claimed last night.

In a bizarre tirade, the Sports Direct boss said the tests would ensure chief executives and finance directors would not be vulnerable to blackmail over their ‘personal issues’.

Ashley also lashed out at unions, the Government, City watchdog the Financial Conduct Authority (FCA) and financial advisers.

He accused ministers and MPs of being too distracted by Brexit to help struggling retailers, said the FCA was not doing enough to stop ordinary shareholders being hurt and railed against unions over their branding of Sports Direct’s Shirebrook warehouse as a ‘Victorian workhouse’.

He set out a series of suggestions to the FCA to improve boardroom decision-making, despite criticism over the way he runs his empire. The 54-year-old said: ‘We have noted to the FCA we believe there should be a voluntary drug test for chief executives and chief financial officers of listed companies.

‘Having such undisclosed personal issues could lead to blackmail and force them to make decisions based on saving their own skin and potentially reducing shareholder value.’

In a 7,300-word update to investors, Ashley saved his strongest attacks for City advisers, who he said ‘should be fined and jailed’ if they acted in their own interests rather than those of companies and their shareholders. ‘They are clearly in this space for self-interest to generate significant fees,’ he added.