Boohoo Group executives’ trip to Bodrum, Turkey has raised eyebrows among staff. The trip, involving around 30 senior executives, is not company-funded but occurs amidst growing financial losses. Some employees express frustration, noting the timing as troubling given cancelled meetings. The trip includes top executives such as Mahmud Kamani and John Lyttle. Boohoo recently withdrew executive bonuses following shareholder backlash.
- The trip, involving approximately 30 senior Boohoo executives, is said to be a social gathering.
- Executives including Mahmud Kamani and John Lyttle participated in the trip amidst company financial struggles.
- Employees voiced concerns about the trip’s timing, especially as meetings were cancelled and financial losses increased.
- Boohoo has withdrawn executive bonuses of £1m each for top members after shareholder opposition.
The decision by Boohoo Group executives to travel to Bodrum, Turkey has come under scrutiny from employees. This gathering, described by the firm as a social event not funded by Boohoo, occurs at a time when the company faces growing economic difficulties. The financial losses reported for the year ending 29 February 2024, showed pre-tax losses increasing to £159.9 million from £90.7 million the previous year, alongside a 17% decrease in revenue to £1.46 billion.
Key executives participating in the trip include executive chairman Mahmud Kamani, executive director Carol Kane, and group CEO John Lyttle. The presence of such senior leadership during this period of financial strain has been particularly concerning for some employees. One staff member expressed discontent, highlighting that all meetings were cancelled during the week of this trip, yet directors opted to travel.
The backdrop of this excursion includes a recent decision by Boohoo to cancel planned bonuses for Kamani, Kane, and Lyttle, which would have amounted to £1 million each. This decision came after engaging with certain shareholders opposed to the bonuses ahead of the annual general meeting on 10 June.
A source close to Boohoo mentioned that the executives are available to conduct work remotely if needed, despite being away for two to five days. Yet, the timing remains a point of contention, particularly as morale within the company is reported to be low.
Boohoo has refrained from commenting on the trip, leaving some of the internal unrest unaddressed publicly.
The trip to Bodrum by Boohoo’s senior executives, at a time of financial challenges, highlights ongoing internal tensions related to leadership decisions.
