Shepherd Replaced As Newcastle Chairman

Following the club’s takeover by retail entrepreneur Mike Ashley, long-standing
chairman Freddy Shepherd has resigned from his post at Newcastle United to be
replaced by his deputy Chris Mort.

It had been thought that Shepherd would remain as chairman despite selling
his 28% stake to Ashley last month but it has now emerged that he is handing
over the reins following a 15 year spell in charge.

Mort was handed the role of deputy chairman following Ashley’s takeover of
the club.

As well as buying Shepherd’s 28% stake for more than £37m, Ashley also
purchased former chairman Sir John Hall and family’s 41.6% stake worth £55m – a
move that gave him control of the club.

He has since increased his stake to 94.5% and delisted the club from the
Stock Exchange.