S ome shareholders are spoilt for choice. Take the lot at Boohoo. Who do they want calling the shots at the business: Mahmud Kamani, the co-founder whose team has, since June 2020, taken 93 per cent off the value of the company; or the self-styled, fireplace-puking “power drinker” Mike Ashley? It’s what you call being caught between a frock and hard place.
Is voting for neither an option? Sadly not, now that Big Mike, with 28 per cent of Boohoo, is throwing his weight around at the increasingly threadbare fast-fashion retailer. The trackie bottom billionaire, who deserves credit for building the £3.3 billion Frasers group, was already trying to muscle on to the Boohoo board, alongside some mate from Kroll, Mike Lennon.
Yet, before we’ve even had that December 20 showdown, he’s now requisitioning another shareholder meeting..
