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Morris, a former solicitor and Carphone Warehouse executive who joined Boohoo Group in 2021 as non-executive chair, was unanimously appointed independent chair with immediate effect in an update issued this morning (21 November).
Kamani will become executive vice chair with immediate effect as part of the board's decision to have an independent chair and allow Mahmud to continue his day-to-day executive role, which includes leading the group's young fashion brands.
As part of the agreement, Kamani is now barred from acquiring Boohoo Group shares until May 2025 and has waived his current salary until November 2025.
The group also said that it has successfully completed its fundraising round of £39.3m, announced last week.
This morning, Frasers Group, which owns a 28.1% in Boohoo Group, issued another open letter calling for Kamani to step down and for Frasers Group's Mike Ashley and Mike Lennon to be installed on the Boohoo board.
The latest open letter is part of an ongoing spat between the two businesses, after Ashley criticised Boohoo Group's financial strategy in October and proposed that he replace John Lyttle as chief executive of the company.
Boohoo Group ultimately appointed Debenhams' Dan Finley as Lyttle's successor and encouraged shareholders to vote against resolutions proposed by Frasers Group at its upcoming general meeting on 20 December.
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