Boohoo has appointed Dan Finley, former Debenhams CEO, as its new CEO, despite shareholder Mike Ashley’s opposition.
- Dan Finley, known for his substantial experience in digital retail, joins Boohoo after his successful tenure at Debenhams and JD Sports.
- Mike Ashley, a notable shareholder, had expressed his desire to lead the company, which the board did not entertain.
- Boohoo’s board unanimously supported Finley’s appointment, citing his capability to drive the group’s online growth.
- Finley has expressed his commitment to expanding Boohoo’s business model and enhancing shareholder value.
Boohoo Group has announced the appointment of Dan Finley, the former chief executive of Debenhams, as its new CEO, despite the vocal opposition from prominent shareholder Mike Ashley. The decision reflects the board’s confidence in Finley’s experience and success in the digital retail sector.
Finley comes with a reputation for driving digital growth, having transformed Debenhams since his appointment in 2022. Before joining Debenhams, he spent a decade at JD Sports, where he delivered significant online expansion. His track record made Finley a compelling choice for Boohoo, which is seeking to bolster its online presence.
Mike Ashley, who holds a significant share in the company, had lobbied for a leadership role within Boohoo. However, the board did not yield to these demands, opting instead to place their trust in Finley. The board’s decision underscores a commitment to pursuing a proven strategy for growth and innovation.
Alistair McGeorge, Boohoo’s deputy chairman, highlighted Finley’s role in transforming Debenhams into a new business model that emphasises capital efficiency and high growth potential. McGeorge expressed anticipation in working with Finley to unlock further shareholder value, reinforcing the board’s unified stance.
In response to his appointment, Dan Finley expressed enthusiasm about the potential opportunities within Boohoo, pointing to its strong brand and infrastructure. He emphasized his focus on replicating the success achieved at Debenhams across Boohoo’s operations, aiming to deliver enhanced value for all shareholders.
The strategic appointment of Dan Finley positions Boohoo to leverage his digital retail expertise amid internal shareholder dynamics.
