Appointment of Chairman

RNS Number : 5487N

ASOS PLC

01 October 2012

 



01 October 2012

ASOS plc ("the Company")

Global Online Fashion Store

 ASOS appoints new Chairman

After twelve years with the company, Lord Waheed Alli is stepping down as Chairman and will be succeeded by Brian McBride with effect from 1 November 2012. Brian has a long and successful background in technology and retailing, including almost six years as Managing Director of Amazon in the UK and prior to that he held senior positions at IBM, Dell and T-Mobile.

Nick Robertson, ASOS CEO said,

"I would like to thank Waheed for his significant contribution to the development of the Company. Waheed has been with us from the very beginning and played a major role in the ASOS story.  I would like to express my gratitude, along with the rest of the board.   

"Brian is joining at an exciting time, as we continue to internationalise the business and march towards our target of £1bn sales per annum. He has a wealth of relevant experience, not just in e-commerce and technology but in fast growth International businesses.  I am delighted to welcome him to the board and look forward to working with him during this next chapter of the ASOS story."

Brian McBride said,

"ASOS shares many of the attributes that have made Amazon a global retailing powerhouse and I'm delighted to join the team at such an exciting time.  I believe the company has the platform, proposition and ambition to deliver its vision of becoming the fashion destination for twenty somethings, globally."

Information regarding the appointment of Brian McBride as non-executive Chairman:

Full name: Brian James McBride

Age: 56

Current Directorships and previous Directorships within the last five years

Current:

mxData

Monitise

Computacenter

Previous:

Amazon.co.uk

British Retail Consortium

Celtic Football Club

SThree

Immediately prior to his appointment, Brian McBride had no interest in any ordinary shares or options in ASOS plc.  Under the terms of his service contract with the Company, dated 1 October 2012 on each of (i) 1 November 2012, (ii) 1 November 2013, and (iii) 1 November 2014 (or, if later in each case, the first subsequent working day on which the Company is in an 'open period') (the "Share Allotment Dates"), he will be issued with such number of new ordinary shares of 3.5p in the Company as equals the sum of £100,000 divided by the closing price of the Company's shares on 31 October 2012, subject (in each case) only to his still being appointed as non-executive chairman of the Company on each such Share Allotment Date, and to potential early award in the event of the Company being subject to a change of control or takeover.

For further information:

ASOS plc
Nick Robertson, Chief Executive	Tel: [phone]
Nick Beighton, Finance Director
Greg Feehely, Head of Investor Relations
College Hill
Matthew Smallwood/Justine Warren/Jamie Ramsay	Tel: [phone]
JPMorgan Cazenove
Luke Bordewich / Gina Gibson	Tel: [phone]
Numis Securities
Alex Ham	Tel: [phone]

 

END

 

 

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