Manchester-based online fashion giant Boohoo announced the appointment of Shaun McCabe as chief financial officer (CFO), succeeding Neil Catto, who will transition to a role as executive director and remain on the group board with responsibility for strategic projects.
McCabe joins Boohoo from Trainline plc and has extensive digital and retail experience, having previously been the international director at Asos plc, as well as CFO for Amazon Europe.
McCabe said: “I know the senior management team and the group well after serving on the board.
“Neil has built a solid foundation for the group and I look forward to helping the management team execute boohoo’s growth strategy as CFO.”
Boohoo said: “Shaun is expected to take up his new role later this year.
“Neil will remain as CFO until then to ensure an orderly handover, after which Neil will take up his new position within the group.
“Shaun joined the group’s board as a non-executive 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.
“Following his new appointment, Brian Small will replace Shaun as chair of the audit committee, with Tim Morris taking on the responsibility of chairing the risk committee.
“Boohoo will commence a process to replace Shaun and recruit one further non-executive director.”
Boohoo 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.
“We are delighted that he will continue to support the senior management team as an executive director and in his role overseeing strategic projects.
“Equally, it has been a great pleasure to work with Shaun over the last two years and we are delighted to have him onboard 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.”
Catto said: “It has been a privilege to have guided boohoo in my role as CFO, throughout which the Group has seen tremendous growth.
“When I joined, Boohoo’s revenue was £20m compared to almost £2bn today.
“In this period, the group has transformed from a small, disruptive UK fashion brand to a stable of international brands with global recognition.
“I look forward to transitioning to my position as an executive director and continuing to work with the group on strategic projects.”