"at-above-post addthis_tool" data-url=" eyes are on Boohoo Group’s new chief executive Dan Finley who is tasked with not only turning around the struggling online fashion group but dealing with disgruntled shareholder Mike Ashley.

Retail tycoon Mike Ashley has experienced a rare taste of defeat after fast-fashion giant Boohoo resisted his attempt to become its new chief executive by tapping the boss of Debenhams. Dan Finley is to step into the role which is being vacated by John Lyttle whose departure was announced last month.

Ashley, whose retail empire Frasers is Boohoo's biggest shareholder, with a 27 per cent stake, wanted to succeed John Lyttle as boss.

Boohoo named Dan Finley as its next chief executive officer, spurning major shareholder Frasers’ attempts to install its owner Mike Ashley at the helm.

Boohoo has appointed a new boss as the fashion giant’s co-founder battles for control of the business with rival tycoon Mike Ashley. The London-listed company said on Friday that Dan Finley had taken over as chief executive “with immediate effect”,

Mike Ashley has asked fast-fashion brand Boohoo Group Plc to appoint him as CEO, in the British billionaire’s latest confrontation with a struggling retailer.

British online fashion retailer Boohoo on Friday appointed Dan Finley as its new CEO, effective immediately, in a blow to top investor Frasers which had attempted to appoint its controlling shareholder Mike Ashley to the role.