Boohoo co-founder’s re-election opposed by 12% of investors in AGM vote

LONDON, June 18 (Reuters) – Some 12% of votes cast at
Boohoo’s annual shareholders’ meeting on Friday opposed
the re-election to the board of the British online fashion
retailers’ co-founder and executive director Carol Kane.

Ahead of the meeting, investor advisory groups Glass Lewis
and Institutional Shareholder Services (ISS) had recommended
shareholders vote against her re-election because of concerns
over how Boohoo dealt with worker conditions in its supply chain
and over executive pay.

Boohoo, which sells clothing, shoes, accessories and beauty
products targeted at 16- to 40-year-olds, said 11.96% of votes
cast at its annual general meeting (AGM) were against the
resolution to re-elect Kane, while 88.04% were in favour.

“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,” Boohoo said.

Boohoo’s other co-founder Mahmud Kamani did not face a vote
on his re-election this year.
(Reporting by James Davey; editing by Michael Holden)