Boohoo's CFO successor has been named

E-commerce giant Boohoo has reported that its CFO has stepped down at the same time it revealed trading remains in line with market expectations.

The fast fashion retailer gave no further details on its financial reports, however, it revealed that final results for the 2024 fiscal year will be published in May.

Shaun McCabe has stepped down from his role as Chief Financial Officer "by mutual agreement and with immediate effect".

He is set to be replaced by Stephen Morana, who will join the business on 19 February.

Morana, Zoopla’s ex-CFO, first joined Boohoo in 2014 as an Independent Non-Executive Director, a role which he held for 3 years. He was most recently the CFO at Cazoo and before that held executive and advisory roles at Octopus Ventures, Betfair, Entain and more. During his years of experience, Morana garnered a reputation for building shareholder value at e-commerce companies.

Stephen Morana

Mahmud Kamani, Executive Chairman at Boohoo, commented: "Stephen is a highly regarded finance director who is well known to boohoo, having previously served on our Board in a Non-Executive capacity for four years.

"He supported us through the IPO process and in our early years as a PLC. While the business has grown significantly since then, Stephen 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."

This announcement follows last week's news that Frasers Group upped its stakes in Boohoo once again. The group levelled up its shares from 17% to 22%, after first purchasing a 5% stake in the fashion giant last June.