Mike Ashley's Frasers seeks to topple Boohoo co-founder from board
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 21 2024
0mins
Source: Reuters
Boohoo's Board Changes: Frasers Group, Boohoo's largest shareholder, is pushing for the removal of co-founder Mahmud Kamani from the board following his recent ousting as chair, advocating for Mike Ashley to take over as CEO amidst declining earnings and increased competition.
Shareholder Tensions: In an open letter, Frasers emphasized the need for change at Boohoo, suggesting that Kamani's continued influence is detrimental, while Boohoo's interim results indicate a significant decline in performance, leading to calls for a strategic overhaul.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
