RetailAppointments
An independent proxy adviser has warned shareholders at boohoo of the “obvious risks” presented by Frasers Group to the company.
Frasers, which owns 27% of boohoo’s shares, is seeking the appointment of its CEO Mike Ashley and Mike Lennon to the company’s board of directors alongside the removal of executive chairman and co-founder Mahmud Kamani.
However, Institutional Shareholder Services, an adviser to boohoo, has urged shareholders to reject Frasers’ proposals at a general meeting on 20th December.
The recommendations of proxy advisers can be crucial to the decisions taken by institutional investors in listed companies.
“Frasers has offered a superficial view of performance and no specific plans for…
