A senior director at PrettyLittleThing who made a fortune when it was fully bought out by Boohoo has left the brand.
Paul Papworth has served as the Manchester company's chief operating officer since April 2019, having first joined as finance director in December 2014.
He has been succeeded in the role by Tom Binns, who was previously PrettyLittleThing's commercial director.
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His departure comes after PrettyLittleThing co-founder Umar Kamani stepped down as chief executive after 12 years in April.
Mr Papworth and Mr Kamani received £269.8m when Boohoo acquired the remaining 34% stake in PrettyLittleThing it did not already own in May 2020.
The deal was worth up to £324m while the pay-out included £107.9m in shares with lock-up periods of 18 and 24 months.
They could also receive a further 16.1 million shares in Boohoo if its share price averages 491p over a six-month period before March 2024.
However, Boohoo's share price has fallen significantly since its deal with PrettyLittleThing and is currently around 36p.
Mr Kamani, the son of Boohoo co-founder Mahmud, recently bought back into the fashion giant and currently holds a 3% stake.
According to its most recently available accounts, a fall in sales outside the UK and USA slowed PrettyLittleThing's growth during the 12 months to February 28, 2022, as return rates rose.
The brand posted a revenue of £712.2m for the year, up from the £710.1m it achieved in the prior period.
However, the company's pre-tax profits fell from £98.7m to £75.1m over the same period.
PrettyLittleThing was established in 2012 by brothers Umar and Adam Kamani and a majority stake was bought by Boohoo in January 2017.
PrettyLittleThing's accounts for its latest financial year are due to be published by the end of November.
