Boardroom changes at fashion firm Boohoo

Manchester-based fashion giant said that after four years with the company Stephen Morana will step down as a non-executive director on July 1, 2017.

Morana currently chairs Boohoo’s audit committee.

Boohoo said David Forbes, senior independent director and existing member of the audit committee, will be appointed chair of the audit committee on July 1, 2017.

Boohoo’s non-executive chairman Peter Williams said: “On behalf of the board, I would like to thank Stephen for his positive contribution to the company and in particular for his stewardship of the audit committee.

“His financial experience and market insight has been invaluable during this transformational period in the company’s development.”

Boohoo also said Iain McDonald, currently non-executive chairman of online retailer MySale Group and a director of e-commerce and furniture retail companies The Hut Group Limited and, will join the Boohoo board as non-executive director on September 1, 2017.

McDonald will chair the remuneration committee in order to allow current remuneration committee chair David Forbes to focus on audit committee matters.

Williams added: “Iain’s insight in the e-commerce world will be a great asset at this time in the group’s growth.”