1st Nov 2024 12:09
boohoo Group PLC - Manchester-based online fashion retailer - Promotes Dan Finley to group chief executive officer, a role that one of boohoo's largest shareholders wants to go to its own founder. Finley is promoted from CEO of Debenhams, the UK department store whose online operations boohoo acquired out of administration back in 2021. He becomes boohoo CEO immediately, replacing John Lyttle, whose departure was announced last month. Finley took over as CEO of Debenhams at the start of 2022, prior to which he was multi channel director at JD Sports Fashion PLC. "Dan had a track record of phenomenal success in online retail during his 10 years at JD Sports," says boohoo Deputy Chair Alistair McGeorge. "The board looks forward to working with him, as we continue the review of options to unlock and maximise shareholder value." boohoo says it will be writing to shareholders in response to the demand by 27% shareholder Frasers Group PLC for Mike Ashley, the FTSE 100 listing's own founder and majority shareholder, to be added to the boohoo board as chief executive.
Current stock price: 30.84 pence, up 4.1% in London on Friday
12-month change: down 2.4%
By Tom Waite, Alliance News editor
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