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Investors are selling Boohoo shares now. They could have intervened far earlier

The inquiry into the fashion chain should question the asset management's industry's timid approach to ethical issues'Inadequate in scope, timeliness and gravity." The verdict from Aberdeen Standard Investment on Boohoo's response to allegations of supply chain abuses was damning. Even as the fast-fashion group appointed an independent lawyer to investigate, the investment house said on Friday that it had had enough, and sold the majority of its shares.All three criticisms appear justified. On scope, Boohoo hasn't taken the obvious step of committing to an independent chair - a normal measure of boardroom accountability. Instead, Mahmud Kamani, founder and 12% shareholder, is still in the chairmanship, which he took on last year after the departure of Peter Williams, the former Selfridges boss, who had been around since flotation in 2014. Continue reading...
Zdroj: The Guardian

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