Frasers Group urges Boohoo shareholder meeting to appoint Mike Ashley as CEO, citing crisis and 15% revenue drop.

Frasers Group, the largest shareholder of Boohoo, has demanded the appointment of its founder, Mike Ashley, as CEO following the resignation of John Lyttle. Frasers is urging a shareholder meeting to support this change, citing a leadership crisis and Boohoo's recent 15% revenue drop. Additionally, Frasers wants restructuring expert Mike Lennon to join Boohoo's board. Boohoo is currently reviewing the request and has advised shareholders to await further announcements.

October 24, 2024
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