Mike Ashley's boardroom coup: Businessman geared up for 'explosive' showdown with billionaire Boohoo heir after he demanded chief executive role By Jessica Clark Published: 03:53 EDT, 25 October 2024 | Updated: 04:14 EDT, 25 October 2024 e-mail View comments Sports Direct tycoon Mike Ashley has demanded to be made chief executive of fast fashion brand Boohoo . In a move that lines Mr Ashley up for an 'explosive' showdown with billionaire Boohoo heir Umar Kamani, the retail veteran called for an urgent meeting to allow shareholders to vote on his appointment. Mr Ashley's retail empire Frasers, which is Boohoo's largest shareholder with a 27 per cent stake, yesterday sounded the alarm over a 'leadership crisis' at the brand and blasted its 'abysmal trading and share price collapse'.
Shares were up 3.9 per cent, or 1.1p, on the day at 28.
5p. In a furious letter, sent days after chief executive John Lyttle announced he would step down, Frasers accused the Boohoo board of 'stonewalling' and 'persistent failure' to engage. Sports Direct tycoon Mike Ashley (pictured in February) is demanding the top job at Boohoo It comes a day after Mr Ashley gave up his attempt to buy Mulberry after the firm rejected his second bid worth £111million in a victory for its biggest shareholder, the billionaire Ong family.
He has demanded a seat for his firm on the handbag maker's board. Read More Mike Ashley demands Mulberry board seat after takeover bid rejected Frasers yesterday called for an urgen.