Skip to content
Search

Latest Stories

Dan Finley named Boohoo CEO amid power struggle

Finley, previously the CEO of Debenhams since 2022, has taken over immediately from John Lyttle

Dan Finley named Boohoo CEO amid power struggle

ONLINE fashion retailer Boohoo has appointed Dan Finley as its new chief executive amid an ongoing struggle for control with rival retail magnate Mike Ashley.

Finley, previously the CEO of Debenhams since 2022, has taken over immediately from John Lyttle, who led the fast-fashion company since 2019, the Telegraph reported.


During Lyttle’s tenure, Boohoo faced a sharp 90 per cent drop in share value, driven by supply chain scrutiny and stiff competition from the Chinese retailer Shein.

Finley’s appointment comes as Boohoo undergoes significant changes. A review of its portfolio, including brands like Debenhams, Karen Millen, and PrettyLittleThing, is underway, and a potential brand selloff has been hinted.

Dan Finley

The company has also been managing financial strains, recently securing a £222 million refinancing to bolster its operations.

Ashley, the billionaire behind Sports Direct and Frasers Group, has taken advantage of the current instability, trying to increase his influence at Boohoo.

Holding a 27 per cent stake, Ashley has openly criticised Boohoo’s leadership, accusing co-founder and executive chairman Mahmud Kamani and other board members of “incompetence” and “destroying value.”

He has called for his own appointment as CEO, a move Boohoo’s board is actively resisting.

In response to Ashley’s criticisms, Boohoo defended its leadership, calling his claims “inaccurate and unfair.” The company also advised shareholders to wait for further updates regarding Ashley’s attempted takeover, urging them to hold off on any actions.

Despite Ashley’s pressure, Boohoo’s board said that appointing a new CEO needed careful planning and adherence to proper governance.

Finley’s success at Debenhams, which Boohoo acquired out of administration in 2021, was a key factor in his selection.

His achievements there included transforming the once-troubled department store into a more sustainable, high-growth online marketplace, according to reports.

Alistair McGeorge, Boohoo’s deputy chairman, expressed confidence in Finley’s capabilities, highlighting his strong leadership in digital retail. Before Debenhams, Finley spent a decade at JD Sports, helping it become a FTSE 100 company, further establishing his credentials in the retail sector.

Finley shared his excitement for the future of Boohoo. He said, “I am excited at the opportunities I see ahead. We have brilliant brands and people, underpinned by best-in-class infrastructure. Under my leadership, we have had great success with Debenhams and I look forward to exploring opportunities to extend this business model across the group.

“I will dedicate myself totally to working with my colleagues to unlock significant value for all shareholders.”

Boohoo, which began as a fast-fashion brand targeting young, budget-conscious buyers, has seen significant growth in the past.

It was co-founded by Kamani in 2006 and listed on the London stock exchange in 2014. However, its fortunes have waned since peaking in 2020.

More For You

5 Surprising Penguin Facts to Celebrate World Penguin Day

It’s a perfect opportunity to reflect on these fascinating facts about penguins

iStock

Top 5 fascinating facts about penguins on World Penguin Day

As World Penguin Day arrives, it serves as a reminder to celebrate one of nature’s most beloved and unique creatures. Penguins have long captured our imaginations with their tuxedo-like appearance, charming behaviour, and extraordinary ability to thrive in some of the harshest environments on Earth. While these remarkable birds are most closely associated with the icy expanses of Antarctica, their story is far more diverse and fascinating. Here are five fascinating facts about penguins that highlight their resilience, adaptability, and their role in the animal kingdom.

1. Penguins aren’t confined to Antarctica

Although penguins are often linked with the cold and icy landscapes of Antarctica, they are not confined to this frozen continent. In fact, penguins inhabit a wide range of environments across the Southern Hemisphere. While species such as the Emperor and Adélie penguins breed exclusively in Antarctica, other penguin species have adapted to life in warmer climates. For instance, the Galápagos penguin resides on the Galápagos Islands, located just north of the equator, where temperatures are much warmer than those in the icy waters of the South Pole.

Keep ReadingShow less
jewel thief reviews

Jewel Thief leaves critics underwhelmed by its predictable plot and uninspired direction

Youtube Screengrab

‘Jewel Thief’ review: Critics call it a predictable heist film with uninspired direction

The much-anticipated heist film Jewel Thief promised a thrilling ride with high-stakes action and suspense. However, early reviews suggest that the film falls short of expectations, leaving viewers underwhelmed by its predictable plot and lacklustre execution.

The premise of Jewel Thief centres around a master thief who is forced by a menacing antagonist to steal a rare diamond. Critics, however, note that while the plot has the potential to be gripping, the execution doesn’t quite live up to the hype. The film is described as a "predictable heist" where the twists are "painfully obvious" from the start, offering little in terms of suspense or surprise. The film’s plot quickly devolves into a familiar, formulaic chase that never quite finds its footing.

Keep ReadingShow less
You

A final chapter full of twists, turns, and the inevitable end of Joe Goldberg’s story

Instagram/Younetflix

'You' season 5 reviews: Critics react to Joe Goldberg’s bloody final chapter with mixed responses

Netflix’s You has always sparked strong reactions, equal parts addictive and absurd, and its fifth and final season stays true to that legacy. As Joe Goldberg bows out in this last chapter, the critical response has been a mix of intrigue, exhaustion, and reluctant admiration. Here's a breakdown of the overall verdict.

A slow start that eventually pays off?
The final season has been widely described as sluggish in its early episodes, bogged down by repetitive family drama surrounding Kate’s aristocratic and scheming relatives. The beginning feels a bit slow and hard to get into, but many agree that a mid-season twist helps inject some long-overdue energy. Once the narrative picks up, it becomes more engaging, if not exactly fresh, with enough momentum to keep viewers curious about how Joe's story will unravel.

Keep ReadingShow less
 Post Office Horizon

A Post Office van parked outside the venue for the Post Office Horizon IT inquiry at Aldwych House on January 11, 2024 in London, England. (Photo: Getty Images)

Getty Images

Post Office spent £600m to keep Horizon despite plans to replace it: Report

THE POST OFFICE has spent more than £600 million of public funds to continue using the Horizon IT system, according to a news report.

Despite deciding over a decade ago to move away from the software, the original 1999 contract with Fujitsu prevented the Post Office from doing so, as it did not own the core software code, a BBC investigation shows.

Keep ReadingShow less
Pedro Pascal criticise JK Rowling over her anti-trans views calling it ‘heinous loser behaviour’

Pedro Pascal expresses his support for the trans community while criticizing JK Rowling’s anti-trans stance, following her controversial celebration of a UK court ruling

Getty Images

Pedro Pascal criticise JK Rowling over her anti-trans views calling it ‘heinous loser behaviour’

Pedro Pascal isn’t staying silent. The Last of Us actor has sharply criticised JK Rowling after she celebrated a UK Supreme Court decision that defines “woman” in legal terms as only referring to biological females, a ruling that has sparked outrage across the globe.

Rowling, who helped fund the legal campaign that led to the verdict, celebrated the moment with a photo of herself on a yacht, drink in hand and cigar between her fingers, captioned: “I love it when a plan comes together.” Her post came across as a victory lap for a verdict that many see as a blow to trans rights, particularly for trans women, who now risk being excluded from single-sex spaces.

Keep ReadingShow less