Mike Ashley Pushes for Leadership at Boohoo Amidst Boardroom Tensions

Frasers Group, Boohoo's largest shareholder, demands the appointment of Mike Ashley as CEO, citing a leadership crisis and declining performance.

Frasers Group, led by Mike Ashley, has called for an extraordinary general meeting to vote on Ashley's appointment as CEO of Boohoo.
The demand follows Boohoo's announcement of a strategic review and the stepping down of current CEO John Lyttle.
Frasers, holding a 27% stake in Boohoo, criticizes the current board for poor management and a significant drop in share value.
Boohoo's board is reviewing the demands and advises shareholders to await further announcements before taking any action.
The potential leadership change comes amid Boohoo's financial struggles, including a 15% revenue drop and increased competition from rivals like Shein.