Boohoo Group announces a new Chief Financial Officer, planning strategic growth forward.
- Stephen Morana, a former non-executive director at Boohoo, steps into the CFO role.
- Morana formerly held crucial financial roles at Betfair and Zoopla, showcasing his expertise.
- Shaun McCabe exits the position after a brief tenure, following a mutual agreement with Boohoo.
- Boohoo’s trading aligns with expectations, with upcoming financial results expected in May.
Boohoo Group has made a strategic decision to appoint Stephen Morana as its new Chief Financial Officer. This move marks a new chapter for the fashion giant as it positions itself for continued growth and success.
Stephen Morana, who previously served as a non-executive director at Boohoo Group from 2014 to 2017, brings with him a wealth of experience in global digital businesses. His prior roles as CFO at Betfair and Zoopla highlight his extensive expertise in financial management, making him a valuable addition to Boohoo’s leadership team. Morana’s history with Boohoo and his recognized financial acumen are seen as assets for achieving the company’s growth ambitions.
Shaun McCabe, the outgoing CFO, stepped down from his position and board duties with immediate effect. His departure came about by mutual agreement. McCabe initially joined Boohoo in October 2020 as an independent non-executive director and rose to the role of CFO in October 2022. His tenure, while short, involved significant responsibilities as the chair of the audit and risk committees.
Morana’s appointment is timely, as Boohoo confirmed that its trading remains in line with market expectations. The company plans to report its final results for the fiscal year ending February 28, 2024, in May, maintaining transparency with its stakeholders. This reporting is expected to provide insights into Boohoo’s adaptation to current market dynamics.
Group executive chairman Mahmud Kamani has expressed confidence in Morana’s capabilities. Kamani noted, “Morana is a highly regarded finance director” and is well-placed to support Boohoo’s strategic objectives due to his extensive background in digital finance and previous contributions during Boohoo’s formative years. Kamani’s endorsement underscores the board’s commitment to leveraging experienced leadership for sustained growth.
Boohoo’s strategic leadership change signifies its commitment to leveraging financial expertise for future expansion.
