Boohoo appoints Tim Morris as independent chair
Boohoo has announced that Tim Morris has been appointed as its independent chair with immediate effect.
The news follows a series of steps taken to strengthen the fashion group since it announced its business review.
These have included the completion of refinancing, the appointment of Dan Finley as chief executive, and a successful fundraising of around £39.3 million.
Morris will be responsible for overseeing the business review, which will be led by Finley and supported by the rest of the board.
In a statement, Boohoo said his experience spanning legal, governance, business and board advisory will ensure high standards of corporate governance continue to be upheld, including with regard to the business review.
Meanwhile, Boohoo co-founder Mahmud Kamani has now moved from the chair position to become executive vice chair. Boohoo said this will enable the company to have an independent chair and Kamani to continue his day-to-day executive role.
In addition, Alistair McGeorge will remain as senior independent director to add further independence to the board.
Morris joined the Boohoo board as a non-executive director in May 2021. He is currently group general counsel and company secretary at TalkTalk Telecom Group, and has previously held similar positions at Carphone Warehouse Group. He is also a founding partner of Freston Ventures Investments, which invests in a number of private businesses including Five Guys Europe.
Morris said: “I am delighted to be appointed by the board as chair of Boohoo. My appointment follows a series of decisive steps taken by the board since launching its business review, including the completion of the refinancing, the appointment of Dan Finley as our new chief executive and the successful fundraising.
“I am excited to lead Boohoo through the next phase of its development, alongside Dan and the wider board, with the focus on delivering maximum value for, and protecting the interests of, all shareholders.”
In a separate development, Boohoo investor Frasers Group has issued an open letter to shareholders as the spat between the two companies continues. The letter has called for a shareholder meeting of Boohoo to remove Kamani as executive chairman and to replace him with Frasers Group’s Mike Ashley. It also referred to what it described as continued chaos at the business.
