Retail, Food & Drink Summit: Nick Robertson, CEO, ASOS (Photo : YouTube)
Co-founder of ASOS PLC Nick Robertson will resign from his role as chief executive of the fashion retailer after 15 years of service.
Reportedly ASOS Chief Operating Officer Nick Beighton is anticipated to succeed Robertson as CEO. Robertson will remain on the ASOS board as a non-executive director, Sky News reported.
"I'd like to acknowledge Nick Robertson's extraordinary achievement. His passion and vision have built a start-up into a world class company," said ASOS chairman Brian McBride.
ASOS' share price dropped as the digital juggernaut confirmed chief Robertson is leaving. ASOS' share price was down 4.1 per cent in early morning trading as reported by Market Watch.
Beighton was promoted from finance director to chief operating officer in October 2014. Beighton was replaced as finance head by Helen Ashton as reported by BBC. Ashton is the former head of the debt management business Capquest and once inance director at Lloyds Banking Group.
ASOS co-founder owns an 8.4 per cent stake in the company that is worth more than £208 million. ASOS was established in June 2000 by Robertson and Quentin Griffiths as As Seen On Screen, offering its customers clothes and accessories similar to those worn by celebrities. British online fashion and beauty store is mainly aimed at young adults.
It offers over 60,000 branded and own label products including: dresses, jeans, T-shirts, shirts, shoes, jewelry, lingerie, and beauty products. The fashion and beauty retailer also ships to over 237 other countries from its two distribution centers in the UK.
ASOS has stretched out globally, and has websites in nine languages and main warehouses in the UK, US, Europe and China. It owns A-list fans including the US First Lady Michelle Obama and Jessica Alba.
