Boohoo Group has announced significant changes within its financial leadership, appointing Stephen Morana as the new CFO.
- Stephen Morana succeeds Shaun McCabe, who departed from the role unexpectedly after a 15-month tenure.
- This move marks Morana’s return to Boohoo, where he previously served as a non-executive director from 2014 to 2017.
- Despite the changes, Boohoo assures that trading remains steady and aligned with market predictions.
- Chairman Mahmud Kamani expresses confidence in Morana’s ability to drive Boohoo’s growth strategy.
Boohoo Group has strategically appointed Stephen Morana, known for his successful stints at Zoopla and Betfair, as the new Chief Financial Officer. This appointment follows the swift departure of Shaun McCabe, who left the company by mutual agreement and with immediate effect.
Shaun McCabe had joined the board in October 2020 as an independent non-executive director, eventually stepping into the CFO role in October 2022. However, his recent departure led to a reshuffle within Boohoo’s executive team.
Stephen Morana is not a stranger to Boohoo. He has previously served on Boohoo’s board as a non-executive director between 2014 and 2017. This prior experience, coupled with his extensive history at Betfair and online estate agent Zoopla, positions him as a highly qualified candidate for the CFO position.
Boohoo’s trading performance continues to meet market expectations, reflecting stability amidst these leadership changes. The final results for the fiscal year ending 28 February 2024 are anticipated to be reported in May.
Group Executive Chairman Mahmud Kamani has expressed his strong support for Morana’s appointment. Kamani highlighted Morana’s deep understanding of Boohoo’s vision, noting his valuable contribution during the company’s IPO and initial growth phases. Kamani remarked, “He has a wealth of experience with global digital businesses and is therefore very well placed to support the strategy in pursuit of our growth ambitions.”
Stephen Morana’s appointment as Boohoo’s CFO is a strategic move aimed at fostering stability and growth within the company.
