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ASOS Shakes Up Executive Board

The company revamped its board by naming several new directors as it looks to bounce back from a string of profit warnings.
Asos headquarters in London | Source: Courtesy
By
  • Reuters

LONDON, United States — Online fashion retailer ASOS Plc on Wednesday revamped its board by naming several new directors, including Ocado Solutions Chief Executive Luke Jensen, as it looks to bounce back from a string of profit warnings.

ASOS, which sells fashion aimed at twentysomethings, is tapping experienced hands to revive its business after the company in July issued its third profit warning since December.

It had said problems in ramping up warehouses in the United States and Germany restricted product availability, hitting sales and raising costs.

The company appointed four new independent non-executive directors in total on Wednesday, increasing the number to six. Two existing directors, Hilary Riva and Rita Clifton, will leave in April 2020 after their six-year tenures.

The other three new directors are Sky executive Mai Fyfield, former Burberry executive Eugenia Ulasewicz and Micro Focus executive Karen Geary.

Jensen will sit on the audit and nomination committees along with Geary and Ulasewicz, while Fyfield will join the audit and remuneration committees.

By Tanishaa Nadkar; Editor: Subhranshu Sahu.

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