Feedback Here

fbook  tweeter  linkin YouTube
Global contents also translated in Chinese

Nick Beighton quits as Asos CEO

  

Nick Beighton, CEO, Asos has quit the British online fashion retailer as it faces a 40 per cent profit decline in 2022 on account of supply chain pressures and consumers returning to pre-pandemic behavior. Beighton spent 12 years, at Asos including six as CEO. His departure would enable the company find new leadership to accelerate international growth and deliver £7 billion($9.5 billion) annual revenue within four years.

Mat Dunn, Chief Finance Officer will lead the business on a day-to-day basis till a new CEO is sought. Katy Mecklenburgh, Director-Finance, will become interim Chief Financial Officer. Ian Dyson, Senior Independent Non-Executive Director, will be promoted as the company’s chairman on November 29, 2021.

Asos reported a 36 per cent rise in year to August 31 adjusted pretax profit to £193.6 million, driven by a £67.3 million boost from the pandemic when shoppers bought leisurewear, rather that partywear options for a night out, some of which were then returned. The company’s revenue rose by 22 per cent to £3.91 billion as its active customer base increased by 13 per cent to 26.4 million.

 
LATEST TOP NEWS
 
 
MOST POPULAR NEWS