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The Guardian - UK

Business

Kalyeena Makortoff

Frasers Group calls for Mike Ashley to replace Boohoo chief

Mike Ashley Boohoo Frasers Frasers Group John Lyttle Mike Lennon

Mike Ashley — The appointment of Mike Ashley would be ‘in the best interests of Boohoo, its shareholders and its stakeholders’, Frasers said. Photograph: Kirsty O’Connor/PA

The Sports Direct owner, Frasers Group, is attempting to install its founder, the retail tycoon Mike Ashley, as chief executive of Boohoo, as he accuses the board of having “lost its ability to manage” the online fashion company.

Frasers, which owns 27% of Boohoo, has written to the board calling for an emergency meeting of shareholders to take a vote on appointing Ashley as chief, less than a week after the company announced that its boss, John Lyttle, would be stepping down.

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