boohoo and unusual remuneration for directors

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boohoo and unusual remuneration for directors

boohoo (LON:BOO) has been a terrific success but it would have been a greater success if members of the family of the CEO, one Kamani, had not had opportunity after opportunity (all taken) to sell subsidiaries to BOO where the vendor retained a significant minority stake and the cost of buying in this minority stake was determined by a formula overseen by the auditors, PwC.

Further, these acquired subsidiaries have a business which is very similar to that of BOO but enjoys essentially the same management and the same product lines. Curiously, these subsidiaries enjoy greater profit margins than those enjoyed by BOO. Defamation law precludes my being as specific as I would like. But, fortunately, my friend, Matthew Earl, sometimes known as The Dark Destroyer, has set out the anti-BOO case using his publishing arm ShadowFall. Here is the link for those who like to be slack-jawed when reading: Research Services – ShadowFall Research.

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