ASOS revamps board amid efforts to revive business

(Photo: Pablo Cuadra/Getty Images).
(Photo: Pablo Cuadra/Getty Images).
BRITISH online fashion and cosmetic retailer ASOS Plc has revamped its board to name new directors on Wednesday (2).
The company appointed four new independent non-executive directors, including Ocado Solutions chief executive officer Luke Jensen, Sky executive Mai Fyfield, former Burberry executive Eugenia Ulasewicz, and Micro Focus executive Karen Geary.
With the latest appointments, the number of independent non-executive directors in the board increased to six.
Two existing directors, Hilary Riva and Rita Clifton, are scheduled to leave the fashion firm next year after their six-year tenures.
Jensen will be responsible for the audit and nomination committees, along with Geary and Ulasewicz, while Fyfield will oversee the audit and remuneration committees.
Adam Crozier, chairman, ASOS plc said: “On behalf of the board, I’d like to warmly welcome Karen, Luke, Mai and Eugenia to ASOS. Their world-class experience, skills, and expertise will be essential in guiding the business through the next stage of global growth, fuelled by the substantial investments it has made over the past few years. I’d also like to extend our thanks and gratitude to Hilary and Rita for the important role they have played in the development of ASOS and the board during their tenure.”
According to ASOS, it sells more than 85,000 branded and ASOS brand products through localised app, mobile, and desktop web experiences, delivering from fulfilment centres in the US and Europe, including the UK.
ASOS is trying to get experienced executives to revive its business after the firm issued its third profit warning in July since last December.
The British firm said the overall sales climbed 12 per cent in the four months to June 30. However, growth in the US and Europe was lower than expected, at 12 per cent and 5 per cent, respectively, owing to operational failures.