The inquiry into the fashion chain should question the asset managements industrys timid approach to ethical issuesInadequate in scope, timeliness and gravity. The verdict from Aberdeen Standard Investment on Boohoos response to allegations of supply chain abuses was damning. Even as the fast-fashion group appointed an independent lawyer to investigate, the investment house said on Friday that it had had enough, and sold the majority of its shares.All three criticisms appear justified. On scope, Boohoo hasnt taken the obvious step of committing to an independent chair a normal measure of boardroom accountability. Instead, Mahmud Kamani, founder and 12% shareholder, is still in the chairmanship, which he took on last year after the departure of Peter Williams, the former Selfridges boss, who had been around since flotation in 2014. Continue reading...
Tags
far
earlier
selling
shares
Category:
News and Media
Latest from this category |
|
|
