Fast fashion group Boohoo has moved quickly to stop Frasers owner Mike Ashley from muscling his way into the CEO role, taking a place on the board.
, which Boohoo acquired out of administration and transformed into a digital department store. He’ll take up the Boohoo Group role with immediate effect.Alistair McGeorge, Boohoo Group deputy chairman, said the board was “unanimous” in its decision to appoint Finley, whom he described as “one of the outstanding leaders in a new generation of digital retailers.”
Finely said he’s looking forward to exploring opportunities to extend the successful Debenhams business model across Boohoo Group. “I will dedicate myself totally to working with my colleagues to unlock significant value for all shareholders,” he said.Before joining Debenhams, Finley spent a decade as group multi-channel director at JD Sports, and was there when JD Sports entered the FTSE 100.
Ashley is known in the U.K. as the Grim Reaper of the high street, buying up stakes in mass market, premium and luxury companies and then pouncing when he senses trouble, or when sales begin to slow.
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