Debenhams chairman ousted by Mike Ashley

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Retailer’s chairman Ian Cheshire steps down and CEO Sergio Bucher leaves board

The chairman and chief executive of Debenhams have been ousted from the retailer’s boardroom after two major shareholders – including Mike Ashley’s Sports Direct – voted against them.

The chairman, Ian Cheshire, stepped down immediately while the chief executive, Sergio Bucher, will stay on but not as a director.

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