17th Sep 2018 08:29
LONDON (Alliance News) - Online fashion retailer boohoo Group PLC said Monday it has poached Primark Stores Ltd's Chief Operating Officer John Lyttle to be chief executive officer.
Lytte will join the online retailer on March 15, 2019, after eight years at low-cost, bricks-and-mortar clothing retailer Primark, a division of Associated British Foods PLC.
"John's appointment is a key constituent of the group's positioning for its next stage of growth and will be accompanied by a number of changes to the existing main board roles, all of which are designed to support the journey of the group through its further international expansion," boohoo explained.
Mahmud Kamani, currently boohoo's joint CEO, will become executive chairman, focusing on the long-term strategic objectives of the group. The other joint CEO, Carol Kane, will will assume the title of co-founder and executive director on March 15.
Meanwhile, Non-Executive Chairman Peter Williams will step down in March.
The retailer said it looks to recruit an independent non-executive director for whom it will "imminently" start a search.
boohoo shares were trading up 1.2% at 171.9546 pence each early Monday.
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