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Boohoo boss trousers £650,000 bonus despite share price slump

Boohoo chief executive John Lyttle won £1.35m in February

Boohoo boss pants £650,000 bonus despite fast fashion company’s share price losing nearly half its value in a year

Boohoo chief executive John Lyttle won £1.35m in February

Boohoo chief executive John Lyttle won £1.35m in February

The boss of fast fashion company Boohoo was handed a £650,000 bonus as he plunged into a loss and saw his share price drop nearly half its value in a year.

Chief executive John Lyttle won £1.35m in the year to February – made up of his £651,000 salary and a bonus also amounting to £651,000.

Owner Mahmud Kamani, who co-founded the business in 2006 and is estimated to be worth around £675million, also received an annual bonus of 100% of his salary.

He won £1million. In March, Boohoo shareholders narrowly approved a one-off new incentive deal that could see Lyttle earn a bonus of £50m over the next five years – provided it leads a significant turnaround in the share price. the action.

The stock has plunged more than 45% in the past year as it posted a loss of almost £91million, compared to a profit of £7.8million the year before, after the drop in sales.

Boohoo has been hit by rising costs as well as the return of shoppers to the high street.

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