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The British fashion group has been engaged in a battle with
Dunkerton since the former CEO called for the shareholder
meeting in an attempt to force a return to the company's board
after a raft of profit warnings.
Dunkerton and Superdry's co-founder and former brand and design
director, James Holder, said earlier this month they wanted to
place Williams, current chairman of online fashion retailer
Boohoo, on the company's board.
Dunkerton, in a letter to shareholders on Thursday, said he
would work to restore double-digit percentage EBIT margins and
rebuild profitability in two to three years.
He also pledged not to sell his shares in the company for at
least two years http://bit.ly/2HleCIh.
The company said its board believes that Dunkerton's return
would be "extremely damaging to the company and its prospects".
"There is little new information and no clear articulation of
the proposed strategy or action plan in (Dunkerton's)
statement," Superdry Chairman Peter Bamford said.
Superdry, which has already stated that it does not want
Dunkerton back, said that its board unanimously recommended
shareholders to vote against electing Dunkerton and Williams.
Dunkerton owns 18.4 percent of Superdry.
Shares of Superdry, which main products are sweatshirts, hoodies
and jackets, plummeted 68 percent in the last year.
Last year, the company launched an 18-month product innovation
and diversification program, aiming to reduce its over-reliance
on cold weather clothing by entering new areas such as
children's clothes.
Shares were up 2.5 percent at 528.5 pence at 1027 GMT on
Thursday.
(Reporting by Sangameswaran S in Bengaluru; Editing by Saumyadeb
Chakrabarty)
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