ASOS Chief Executive Nick Beighton Steps Down From The Online Fashion Giant
ASOS CEO Nick Beighton has stepped down from the British online fashion retailer as it warns that higher logistics costs and supply chain disruption could force its 2022 profits down by over 40%.
Nick Beighton has served as ASOS’ Chief Executive since September 2015, having joined the company 6 years earlier. Beighton will now step down from the company with immediate effect as ASOS searches for new leadership to further accelerate its international growth. ASOS has already started to look for Beighton’s successor.
In the meanwhile finance chief Mat Dunn takes on the additional role of chief operating officer and will lead the company on a day-to-day basis. Director of group finance Katy Mecklenburgh will take on the duties of interim chief financial officer. Beighton will remain available to the company board until the end of 2021 to assist with the handover.
For the year to end August, ASOS reported a 36% rise in adjusted pre-tax profit to £193.6 million following exceptional demand in its home market.