Boohoo names new CFO as incumbent moves to strategic projects role
E-tail giant Boohoo Group has named Shaun McCabe as its new Chief Financial Officer. He’s set to succeed Neil Catto whose role will transition to an Executive Director, remaining on the board, “with responsibility for strategic projects”.
McCabe will take up his new role later this year with Catto staying in place until then "to ensure an orderly handover, after which Neil will take up his new position within the group”.
The new CFO had already joined the board as a non-exec director in 2020 and is the current Chair of the Audit and Risk Committees as well as sitting on the Remuneration, ESG and Nomination Committees.
He joins from Trainline, “where he has been key to growing the company's operational and digital footprint as CFO”. But importantly, he has extensive digital and retail experience directly relevant to Boohoo, having previously been the International Director at Asos plc, as well as CFO for Amazon Europe”.
Founder and Executive Chairman Mahmud Kamani said: “Neil has been key to the group's success since it listed and I would like to take this opportunity to extend my gratitude, and that of the board, for his contribution to the business. During his tenure as CFO Boohoo has grown significantly. We now have 20 million active customers and 13 different fashion destinations.
“Equally, it has been a great pleasure to work with Shaun over the last two years and we are delighted to have him on board in his new capacity later this year. His digital and sector experience at Trainline, Asos and Amazon will be key to driving the group's next stage of growth.”
The two executives certainly have some challenges to face in their new roles. While Boohoo remains one of the biggest online fashion retail specialists in Britain, it has been struggling in recent periods with a plummeting share price and recently also reported slowing sales growth.
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