Fast fashion retailer Boohoo Group has appointed Primark chief operating officer John Lyttle as its chief executive as part of a top-level reshuffle.
Lyttle will join the Manchester-based retailer, which also owns PrettyLittleThing and Nasty Gal, in March next year.
Incumbent joint CEO Mahmud Kamani will become group chief executive chairman, while fellow joint CEO Carol Kane will remain on the Boohoo board and take the title of executive director.
Kamani will focus on the business’s long-term strategic direction and Kane will lead the group’s multi-brand strategy.
In a statement, Boohoo Group said Lyttle’s remuneration package will be “heavily related to creating premium growth in shareholder value over the next five years”. It comprises an annual salary of £615,000, annual bonus of up to 150% of annual salary, pension of 5% of annual salary and a “growth share plan” related to the increase in market capitalisation of the company.
Lyttle said: “I have known Mahmud and Carol for a number of years and have watched the growth of the Boohoo Group with admiration. I am hugely excited to be joining the Group at this key stage of its growth and capitalising on what is a global opportunity.”