Ahead of its results on Thursday, Mike Ashley’s Sports Direct International has fallen back after reports of a senior departure.

Jeff Blue, the ex-Merrill Lynch banker, is leaving his position as strategic development director, with a spokesman telling the Times he is employed by Sports Direct “until the end of March.”

Blue joined the company in 2012 to run investor relations and advise on mergers and acquisitions, resulting in Sports Direct buying stakes in Austria’s EAG and Sportland International in the Baltics, as well as options on shares in Tesco and Debenhams. Analysts have been waiting for the company to boost its growth through more overseas acquisitions.

The company is also without a finance director after Bob Mellors resigned due to ill health in December 2013, with Blue helping to fill the gap.

Ashley - who owns Newcastle United - is also embroiled in problems at Scottish football club Rangers. He lent the club £10m but there are still concerns about its finances while a former director is trying to oust the board.

Sports Directs shares are currently down 16.5p at 662.5p.