boohoo has poached a new chief financial officer from fellow London-listed company Trainline.

Shaun McCabe will succeed Neil Catto, whose role will transition to that of an executive director with responsibility for strategic projects.

McCabe joined boohoo’s board as a non-executive director in 2020, the first appointment following an independent review into the fast fashion giant’s supply chain led by Alison Levitt QC. 

He is the current chair of its audit and risk committees as well as sitting on the remuneration, ESG and nomination committees. He is expected to take up his new role on 15th September, with Catto remaining as CFO until then to ensure an orderly handover.

“It has been a privilege to have guided boohoo in my role as CFO, throughout which the group has seen tremendous growth,” said Catto. “When I joined, boohoo’s revenue was £20 million compared to almost £2 billion today.

“In this period, the group has transformed from a small, disruptive UK fashion brand to a stable of international brands with global recognition.”

Brian Small will chair the audit committee, with Tim Morris taking on the responsibility of chairing the risk committee. boohoo will commence a process to replace McCabe and recruit one further non-executive director.

McCabe has been key to growing Trainline plc’s operational and digital footprint as CFO over the last six years. He has previously served as international director at Asos plc, as well as CFO for Amazon Europe.

“I know the senior management team and the group well after serving on the board,” he said of boohoo. “Neil has built a solid foundation for the group and I look forward to helping the management team execute boohoo’s growth strategy as CFO.”

Peter Wood, VP of finance, will assume the role of interim CFO at Trainline while the company seeks a permanent appointment.

“I am very proud of the business Trainline has become,” added McCabe in a separate London Stock Exchange announcement for that company. “In stepping down after six years as CFO, I know Trainline is in a strong position, with accelerating performance in the UK and internationally.

“It is the right time for me to pursue a new challenge.”

Deliveroo poaches CFO from MoneySupermarket

Brian McBride, chair of Trainline, commented: “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.”