Frasers Group Criticizes Boohoo’s New Boss Appointment

Frasers Group, a major shareholder in Boohoo, has publicly criticized the online fashion retailer’s appointment of a new boss, calling it disrespectful to shareholders.

Disapproval of New Appointment

Frasers Group has expressed its disapproval of Boohoo’s decision to appoint a new boss without consulting its shareholders. The group believes this move shows a lack of respect for the shareholders’ interests and rights.

Concerns Over Corporate Governance

The group’s criticism also highlights concerns over Boohoo’s corporate governance. Frasers Group has previously raised issues about the company’s handling of allegations of poor working conditions and low pay in its supply chain.

• Frasers Group believes that the appointment of the new boss without shareholder consultation is another example of poor corporate governance.
• The group has urged Boohoo to improve its corporate governance practices to protect shareholder interests.

Boohoo’s Response

Boohoo has yet to respond to Frasers Group’s criticism. The online fashion retailer has been under scrutiny for its corporate governance practices, and this latest criticism from a major shareholder adds to the pressure on the company to make changes.

Summary

In conclusion, Frasers Group’s criticism of Boohoo’s new boss appointment highlights ongoing concerns about the company’s corporate governance. The group believes that the appointment was made without due regard for shareholders’ interests, and has called on Boohoo to improve its corporate governance practices. This latest development adds to the pressure on Boohoo to address these issues.