Superdry co-founder Julian Dunkerton urges shareholders to vote him back to board

business

Superdry co-founder Julian Dunkerton urges shareholders to vote him back to board

business newsMarch 14, 2019by Huw Hughes

Superdry co-founder Julian Dunkerton has urged shareholders in the company to vote him and Peter Williams to the board, pledging not to sell his shares in the company for at least two years if they do.

In a letter to shareholders, Dunkerton said he plans to return the company to profitable revenue growth, restore double-digit EBIT margins and rebuild profitability, all of which he says is achievable within 2-3 years.

Responding to the letter in a statement, Superdry said there was “little new information and no clear articulation” in Dunkerton’s proposed strategy.

“The board's position remains unchanged. The board unanimously believes that Mr Dunkerton's return to the company, in any capacity, would be extremely damaging to the company and its prospects,” Superdry’s statement said.

Earlier this month, Dunkerton and fellow Superdry co-founder James Holder requested for Dunkerton and Boohoo chairman Peter Williams to be voted to the board. Superdry responded by urging its shareholders to vote against the request.

A final decision on the bid will be decided at a company meeting on 2 April.