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ASOS CEO Nick Beighton Steps Down

ASOS CEO Nick Beighton Steps Down

ASOS CEO Nick Beighton Steps Down

ASOS is looking to fill its chief executive position, with Nick Beighton stepping down after serving for six years in the position.

Beighton helped the company quickly scale its business, but his departure comes at a time when the company is anticipating sales to slow down due to global supply-chain disruptions.

“While our performance in the next 12 months is likely to be constrained by demand volatility and global supply chain and cost pressures, we are confident in our ability to capture the sizeable opportunities ahead,” said Mat Dunn, chief financial officer at ASOS.

Following Beighton’s departure, the company is looking to find new leadership that can help accelerate international growth and deliver $9.5 billion of annual revenue within four years.

In the meantime, Dunn is taking the lead on the company’s day-to-day business as chief operating officer, while Katy Mecklenburgh, who served as the director of the company’s finance division, is going to serve as the interim chief financial officer.

After the announcement, shares fell as much as 16 percent in London.

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