boohoo has appointed听Trainline CFO听Shaun McCabe as a non-executive director.听
The appointment, which will see McCabe chair the audit committee,听is the first of two promised by the听eCommerce giant听following an听independent review听into听its supply chain听led by听Alison Levitt QC.听
The review was ordered听following a听Sunday Times investigation which听revealed poor conditions at a factory in Leicester听and led to several leading retailers dropping its clothes.听
McCabe, 52,听will join the board with immediate effect听as boohoo drives forward an 鈥榓genda for change鈥� which is intended to improve its corporate governance, compliance and monitoring processes.听He is also a NED at listed electricals retailer AO World.听
He听will also听sit on boohoo鈥檚 remuneration and nomination committees.听
McCabe has served as the CFO of Trainline since 2016 and is a former international director at boohoo鈥檚 online fashion rival Asos.听He holds a minor stake in boohoo.
Prior to that he spent a decade at听Amazon, where he was听CFO for its European operations.听He听also has experience at听Homebase,听Whitbread and EY.听听
“I am delighted to be joining boohoo at an exciting time when it is implementing its agenda for change,鈥� said McCabe.听
鈥淗aving spoken extensively with fellow members of the board, I look forward to helping the group add further independent experience and increased oversight on matters of compliance and business practices.”听
The Leicester scandal saw听more than 拢1.5听billion being wiped off the firm’s valuation,听falling听to 拢3.2bn.听Its market cap recovered to听around听拢4.5产苍听but has since fallen back to 拢3.6bn.听
Executive chairman听Mahmud Kamani听said:听“I am committed to supporting and driving our agenda for change to build a better boohoo for the benefit of听all of听the听group’s stakeholders.听听
鈥�I am delighted to welcome Shaun to the听group. His deep knowledge and experience of eCommerce and retail will be a great asset to the听board.听听
鈥�We are committed to implementing our agenda for change that will help us on our journey to lead the fashion eCommerce market听globally.鈥�