Boohoo appoints Stephen Morana as CFO as McCabe steps down

(Sharecast News) - Boohoo said on Tuesday that trading remains in line with market expectations as it announced the departure of chief financial officer Shaun McCabe "by mutual agreement" and with immediate effect. The online fashion retailer said Stephen Morana has been appointed to the board as CFO with effect from 19 February.

Morana is "widely recognised for his e-commerce expertise and he has significant experience in a range of businesses," Boohoo said.

He spent a significant part of his executive career as CFO of two founder-led, digitally disruptive businesses, Betfair and Zoopla, both of which he led through IPO. He has also been a non-executive director at Ladbrokes owner Entain and at Boohoo between 2014 and 2017.

Morana's most recent executive position was at Cazoo.

Executive chairman Mahmud Kamani said: "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."