Frasers warned over what it claimed was a 'leadership crisis' at Boohoo after its chief executive last week stepped down. Sports Direct owner Frasers Group has demanded the appointment of its founder Mike Ashley as chief executive of Boohoo as it warns over a mounting "crisis" at the struggling online fashion firm. Frasers – which is Boohoo's largest shareholder with a 27% stake – is calling for a meeting of Boohoo investors to back its plans to appoint Mr Ashley, claiming it is "in the best interests of Boohoo, its shareholders and its stakeholders". The firm said Mr Ashley could take on the role at Boohoo, replacing chief executive John Lyttle "without delay", while it also wants restructuring expert Mike Lennon to join the board. In an open letter to Boohoo's board, Frasers cautioned over what it claimed was a "leadership crisis" at the retailer after Mr Lyttle announced he was stepping down last week.