Friday 9 December 2016

Company founder Robertson to step down as Asos chief

Published 03/09/2015 | 02:30

Nick Robertson, outgoing chief executive officer of internet retailer Asos, poses with models Mariel Booth and Elodie Bonis
Nick Robertson, outgoing chief executive officer of internet retailer Asos, poses with models Mariel Booth and Elodie Bonis

Chief executive Nick Robertson is to step down from Asos, the UK's largest online-only fashion retailer, 15 years after he co-founded the business.

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Robertson will remain with the company as a non-executive director, London-based Asos said in a statement yesterday. His replacement will be chief operating officer Nick Beighton.

Under Robertson, Asos has grown from a startup to become a leader in online fashion retailing with annual sales of about £1bn (€1.35bn). Robertson, who was awarded an OBE in 2011 for his achievements in the world of clothing retailing, holds a stake in the company worth more than £200m.

"We are fortunate to have such an able successor for the CEO role," chairman Brian McBride said.

Beighton joined Asos in April 2009 as chief financial officer, becoming chief operating officer in October last year. Beighton's successor as chief financial officer, Helen Ashton, started at the company on Tuesday. Robertson steps down on a positive note. At the company's last business update in July, Asos said it expects full-year sales to be at the higher end of its forecast range, which is 20pc.

Asos shares fell 0.3pc to 2,984 pence in London on Tuesday, trimming their gain this year to 16pc. The stock was first sold to the public at 20 pence a share in October 2001, when the company was called As Seen on Screen and sold imitations of designer fashions worn by celebrities. (Bloomberg)

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