Snubbed Mike Ashley brands Boohoo desperate

Mike Ashley has described fast fashion group Boohoo as ‘desperate’ after it appointed an insider as chief executive – instead of him.

Ashley, whose retail empire Frasers is Boohoo’s biggest shareholder, with a 27 per cent stake, wanted to succeed John Lyttle as boss.

But Boohoo on Friday named Dan Finley – head of its subsidiary Debenhams – as its next chief executive, in a snub to the tycoon.

It defended the decision – unanimously agreed by the board – saying Finley was ‘the obvious internal candidate’ for the role.

But in an email to The Sunday Times, Ashley said: ‘Independent shareholders be warned, desperate people do desperate things.’

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