Boohoo has bid farewell to Shaun McCabe, its CFO, who has stepped down from the role with immediate effect after just over a year with the business. Stephen Morana will take up the CFO post in February in a return to Boohoo.
Stephen Morana
Boohoo executive chairman Mahmud Kamani said of Morana: “Stephen is a highly regarded finance director who is well known to Boohoo, having previously served on our board in a non-executive capacity for four years.”
Meanwhile Boohoo is under considerable pressure which is coming from many directions, not least from Frasers Group which now holds 22 per cent of its shares, along with a falling share price and continuing attacks from the media in respect of its treatment of suppliers and the management of its ‘model’ factory in Leicester. It also poised to close a distribution centre in Daventry which places around 400 jobs at risk. This follows the planned closure of a further facility in Wellingborough which has been operational for less than a year.
Boohoo maintains that its trading for FY February ’24 is in line with market expectations.
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