Boohoo co-founder Carol Kane survives AGM vote

Carol Kane

Carol Kane, the co-founder of Manchester fashion giant Boohoo, has comfortably survived an attempt by some shareholders to remove her from the retailer’s board at the company’s AGM.

The attempt to oust Kane had the support of high-profile groups — including influential shareholder advisory group Glass Lewis — and followed a scandal over factory working conditions for some of the people who make Boohoo’s clothes.

But only 11.96% of the votes cast by shareholders were in favour of removing Kane from her position as an executive director.

Nonetheless, 20% of shareholder votes were cast against the company’s remuneration report.

Boohoo said: “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. 

The Remuneration Committee acknowledges that the 79.80% vote in favour of the Remuneration Report represents a significant improvement versus last year.

“The Remuneration Committee looks forward to ongoing engagement with the group’s shareholders as it continues to shape the group’s future remuneration policy.”

Boohoo CEO John Lyttle said: “We are delighted with the overwhelming support received from shareholders in passing all resolutions at our AGM, including the re-election of co-founder Carol Kane.

“Carol plays an integral role in establishing the identities that sit behind each of the brands on our multi-brand platform, and as a co-founder of the group her drive, enthusiasm and unwavering support for our Agenda for Change will be crucial in delivering change for the benefit of all stakeholders.”

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Mark McSherry
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