Boohoo Co-Founder’s Re-Election Opposed by 12% Of Investors in AGM Vote

Boohoo Co-Founder’s Re-Election Opposed by 12% Of Investors in AGM Vote

Boohoo campaign. Boohoo.

Some 12 percent of votes cast at Boohoo’s annual shareholders’ meeting on Friday opposed the re-election to the board of the British online fashion retailers’ co-founder and executive director Carol Kane.

Ahead of the meeting, investor advisory groups Glass Lewis and Institutional Shareholder Services (ISS) had recommended shareholders vote against her re-election because of concerns over how Boohoo dealt with worker conditions in its supply chain and over executive pay.

Boohoo, which sells clothing, shoes, accessories and beauty products targeted at 16- to 40-year-olds, said 11.96 percent of votes cast at its annual general meeting (AGM) were against the resolution to re-elect Kane, while 88.04 percent were in favour.

“The board is delighted that shareholders have recognised the important and very specific role Carol has on the board with a very strong vote in her favour,” Boohoo said.

Boohoo’s other co-founder Mahmud Kamani did not face a vote on his re-election this year.

By James Davey; Editor: Michael Holden

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