Ashley Calls for Accountability at Boohoo in Bid for Board Seat
- Vows in open letter to use board seat to turn company around
- Says he seeks to avoid a “fire sale of assets” at retail group
Billionaire Mike Ashley renewed his pitch for a board seat at Boohoo Group Plc, vowing to turn around the struggling fashion retailer that he said was underperforming with “no clear strategy to halt the decline.”
Recent management changes at London-listed Boohoo are “the epitome of chaos, a desperate attempt to mask dysfunction at the top,” Ashley said in an open letter to the retailer’s shareholders on Sunday. “But Boohoo is not beyond saving. As a board member, I would bring the fresh ideas, constructive support, and the much-needed accountability Boohoo desperately needs,” he added.