TOP NEWS: boohoo hires Trainline CFO and former Asos exec as new CFO

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Trainline PLC on Thursday said Chief Financial Officer Shaun McCabe will step down, moving to online fashion retailer boohoo Group PLC in the same role.

McCabe joined online ticketing platform Trainline six years ago CFO. Prior to that, he was international director at boohoo competitor Asos PLC, as well as CFO for Amazon Europe, part of Amazon.com Inc.

Trainline said that McCabe will step down on September 15, and Peter Wood, vice president of Finance, will become interim CFO whilst the process to appoint a successor is underway. Wood has been with Trainline for 7 years, it added.

Trainline said it continues to make good financial and operational progress, growing strongly in the UK and internationally, and its expectations for the full year remain unchanged.

AIM-listed boohoo said McCabe, who has been a boohoo non-executive director for the past two years, will succeed Neil Catto as CFO.

McCabe joined boohoo's board in 2020 and is currently chair of the Audit & Risk Committees as well as sitting on the Remuneration, ESG & Nomination Committees. Following his new appointment, Brian Small will replace McCabe as chair of the Audit Committee, with Tim Morris taking on the responsibility of chairing the Risk Committee, boohoo said.

Catto will remain as CFO until McCabe joins, after which Catto will move to executive director, responsible for strategic projects.

Trainline Chair Brian McBride said: ‘I would like to thank Shaun for his outstanding leadership as CFO. He has navigated Trainline through a period of significant challenge, including the impact of Covid-19, and leaves a business well placed to grow strongly in the UK and in Europe.’

Shares in Trainline were down 11% to 283.20 pence each in London on Thursday morning. boohoo shares were down 1.1% to 60.61 pence each.

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