Julian Dunkerton has responded to a report by proxy advisory firm Institutional Shareholder Services (ISS) recommending that shareholders reject his appointment as a non-executive director to the Superdry board.
ISS has also recommended that shareholders oppose the appointment of former Boohoo chairman Peter Williams to be made an independent non-executive director at a general meeting on 2 April, requisitioned by Dunkerton.
Dunkerton and co-founder James Holder, who together own 29% of the company’s shares, today (20 March) issued a statement in response to the ISS report.
The statement reads: “Naturally we are disappointed by the ISS recommendation. However, we acknowledge that it is extremely rare for ISS to support shareholders who propose changes in corporate strategies. The strategic and leadership failings at Superdry remain clear and the financial and operational impacts are obvious and profound: we know how to fix these issues. We continue to engage productively with shareholders, and we are hugely encouraged by the positive response to our proposals.”
Drapers has contacted ISS for comment.