Boohoo shareholders voted against a proposal by Frasers Group to remove the online fashion retailer's founder and executive vice chair, Mahmud Kamani, from the board.
The resolution, which was voted down at a general meeting held on Tuesday, was the latest turn in a monthslong spat between the two companies. More than 63% of shareholders rejected the proposal.
"Once again, our shareholders have spoken. We want to put this disruption and distraction behind us. Our focus is on maximizing value for all shareholders," CEO Dan Finley said.
In November, U.K. sports and fashion retailer Frasers--which holds a 27% stake in Boohoo--called for the removal of Kamani. In response to Frasers' request, Boohoo's board divided the role between Kamani's executive capacity and his duties as the board's chair and appointed Tim Morris as the independent chair with immediate effect.
In December, Boohoo shareholders also voted against the appointment of Frasers founder Mike Ashley as chief executive and Mike Lennon as director at a general meeting after weeks of wrangling with the sports retailer.
Boohoo had said that the appointment of the candidates would bring what it called conflicts of interest due to their historical ties to Frasers. Instead, Debenhams boss Dan Finley took the reins of Boohoo.
The clash between the two parties came as Boohoo launched a strategic review of the business, seeking to boost shareholder value. With the suggested appointments, Frasers was aiming for an overhaul of the company's financing arrangements and intended to lead Boohoo's return to profitability.
"With the clear support of shareholders, the board calls on Frasers to end its attempts to destabilize and disrupt the group," Boohoo said.
Frasers didn't immediately respond to a request for comment.
免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。