RE: Debt10 May 2025 12:00
Boy oh boy I bet the fools wish they listened....
https://frasers-cms.netlify.app/assets/files/financials/document-1.pdf
3. Life after Mahmud Kamani
As soon as Mr. Ashley and Mr. Lennon are appointed as directors of boohoo and have an
opportunity assess the true state of affairs, they will:
• push for total transparency. For too long, the current Board has failed to disclose to the
market and to shareholders what is really happening at boohoo;
• review boohoo’s financing arrangements to understand what the terms of boohoo’s
refinancing actually are and consider how best to improve boohoo’s financing position;
• bring to boohoo decades-long retail and logistics expertise and experience;
• lead the drive to return boohoo to profitability. Since 2016, Frasers has more than
doubled its profits and Mr. Ashley plans to bring this same success to boohoo;
• fix boohoo’s supply chain. The scandals must end once and for all and the current
Board, led by Mr. Kamani, is clearly not in a position to end these; and
• return to a winning mentality at boohoo. Mr. Ashley, Mr. Lennon and Frasers continue
to believe strongly in the potential of the boohoo business and its brands, but change at
the top is required to realise this potential.
4. The current Board – a performance history to be ashamed of
• While Dan Finley, boohoo’s new CEO, is entirely new to a leadership role at a public
company, boohoo’s other directors are not. In particular, Carol Kane, Stephen Morana,
John Goold, Iain McDonald and Alistair McGeorge have all been directors of other
public companies.
• Analysing their individual track records, each one of these directors has lost
shareholders money based on the annualised return from all previous directorships.
On average, this group of directors collectively lose shareholders over 19% of their
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