BREAKING NEWS

BREAKING NEWS

Superdry founder urges shareholders to vote him to board

Superdry founder urges shareholders to vote him to board
A woman walks past a window display at a Superdry store in London, Britain, March 1, 2019. REUTERS/Toby Melville -
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TOBY MELVILLE(Reuters)
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(Reuters) - Julian Dunkerton, the founder and former boss of British fashion group Superdry, urged shareholders on Thursday to elect him and industry veteran Peter Williams to the company's board at its upcoming shareholder meeting in April.

Dunkerton, in a letter to shareholders, said he would work to restore double-digit percentage earnings before income tax (EBIT) margins and rebuild profitability in two to three years.

He also pledged not to sell his shares in the company for at least two years http://bit.ly/2HleCIh.

In early March, Dunkerton and Superdry's co-founder and former brand and design director James Holder said they wanted to place Williams, current chairman of online fashion retailer Boohoo, on the company's board and called for a shareholder meeting.

Superdry, whose shares slumped 68 percent over the last year, has already said that it does not want Dunkerton back and has asked shareholders to vote against him and Williams.

Dunkerton owns 18.4 percent of Superdry.

(Reporting by Sangameswaran S in Bengaluru; Editing by Saumyadeb Chakrabarty)

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