// Superdry reports Julian Dunkerton’s return as director could lead to resignations
// Superdry is currently in an “ongoing consultation” with one of its largest shareholders
// Dunkerton has commissioned the help of Boohoo chairman Peter Williams in his quest to return
Superdry’s management team has responded to co-founder Julian Dunkerton’s call for a general shareholder meeting and said that his return would be “counter-productive”.
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The team also said Dunkerton’s return would likely “lead to resignations”.
Dunkerton has commissioned the help of Boohoo chairman Peter Williams in his challenge to return as Superdry director.
Williams is expected to act as an independent non-executive director, should Dunkerton’s return be successful.
Dunkerton resigned completely from Superdry last year in March, but he and co-founder James Holder still have a stake of around 29 per cent in the fashion retailer.
Superdry said it was currently in “ongoing consultation” with one of its largest shareholders and added that they “made clear their continued support” for its current strategy and management team and “encouraged the board to ensure the delivery of that strategy”.
Earlier last month, Dunkerton slammed chief executive Euan Sutherland’s strategy as “misguided” following plunging sales as well as a December profit warning.
Superdry added: “Given that he is being proposed by Mr Dunkerton and Mr Holder, the board has significant reservations that Mr Williams could ever be an independent director and represent the interests of all shareholders equally”.
The company will have its next general meeting within the next two months.