ASOS announces Board changes

RNS Number : 0540P

ASOS PLC

16 June 2022

 

16 June 2022

  THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

ASOS Plc

ASOS announces Board changes

Jos é Antonio Ramos Calamonte appointed Chief Executive Officer

 Jørgen Lindemann to become Chair

ASOS plc ("ASOS") today announces the appointment of José Antonio Ramos Calamonte as Chief Executive Officer and Jørgen Lindemann as Chair.

José, who is currently Chief Commercial Officer of ASOS, becomes CEO and a member of the ASOS Board with immediate effect. He is an experienced international retailer, with deep multichannel experience and a track record of driving innovation. In an 18-year career in retail, José has led on commercial strategy for high-profile brands including Inditex, Esprit and Carrefour Spain, having started his career at McKinsey. He joined ASOS from leading Portuguese fashion company, Salsa Jeans, where he held the position of Chief Executive Officer for almost two years.

José has made a significant impact at ASOS since he joined to lead the commercial function in January 2021, taking responsibility for driving ASOS's product and trading strategy globally, encompassing design, sourcing, garment technology, buying and merchandising, global trading, ASOS Studios and creative. He has overseen product, category and range strategy, pricing and margin, own-label product innovation and brand partnerships, leading a team of more than 1,000 people.

Jørgen Lindemann, who joined the ASOS Board as a non-executive director on 1 November 2021, will become Chair, succeeding Ian Dyson, with effect from 1 August 2022, when Ian will step down. At ASOS's AGM in December 2021, Ian outlined his intention to step down from the Board following the appointment of a new CEO, reflecting the fact that he has been on the ASOS Board since October 2013.

Jørgen has deep experience of leading digital-first businesses. In addition to his role on the ASOS Board, he is currently the Chair of Miinto, the Danish-based online fashion marketplace and a Board member of Bambuser AB. He is the former President and CEO of Modern Times Group, the Sweden-based digital entertainments business and recently stood down from the Board of Zalando following five-years as a non-executive director.

José and Jørgen will work closely together and with the rest of the Board, the wider executive team and ASOS colleagues, to continue to deliver against ASOS's refreshed strategic priorities, as set out at the Capital Markets Day in November 2021.

Ian Dyson, Chair of ASOS, said:

"José is the right person to lead ASOS through the next phase of growth and the Board is delighted that he is becoming CEO at such an important time. Since he joined the business, José has made an enormous contribution, driving change through our commercial function and bringing new energy and enthusiasm to the core product and trading functions of the business. José was a core part of the executive team that developed ASOS's strategy, outlined last year, against which we are making continued progress, in spite of the backdrop of difficult market conditions.

"I will step down from the ASOS Board after nine years, confident that we have in place the right leadership to deliver against the long-term strategy to significantly increase sales and profitability by leveraging ASOS's strong, scalable global platform and its best-in-class customer experience."

José Antonio Ramos Calamonte said:

"ASOS is a great business with a strong brand, a compelling customer offer and great people. I joined ASOS because it is a business I had admired for a long time. I am excited at the opportunities ahead and look forward to working with the Board, the rest of the executive team and all our ASOS colleagues to deliver every day for our customers around the world and to create sustainable long-term value for all stakeholders."

Patrick Kennedy, Senior Independent Non-Executive Director of ASOS, said:

"Jørgen Lindemann has made a big impact since joining the Board of ASOS last year and I am delighted that he will step up to take the Chair role and ensure a seamless transition as Ian Dyson steps down. On behalf of the Board, I want to thank Ian for the substantial contribution he has made to ASOS over his nine years on the Board as a non-executive director, Audit Chair, Senior Independent Director and, latterly, as Chair." 

Jørgen Lindemann said:

"I am delighted to be taking the role of Chair of ASOS. The Board of ASOS is clearly focused on ensuring we continue to make progress against our strategy, in spite of the unprecedented external challenges the business is facing. I look forward to working with José and the rest of the team to ensure delivery against our stated ambitions."

Separately today, ASOS has issued a trading statement for the three months ended 31 May 2022.

This Announcement is issued on behalf of the Company by Anna Suchopar, General Counsel and Company Secretary.

For further information:

ASOS Plc	Tel: [phone]
José Antonio Ramos Calamonte, Chief Executive Officer Mathew Dunn, Chief Operating Officer & Chief Financial Officer Taryn Rosekilly, Director of Investor Relations Website:  www.asosplc.com/investor-relations
Headland Consultancy	Tel: [phone]
Susanna Voyle / Stephen Malthouse
JPMorgan Cazenove	Tel: [phone]
Bill Hutchings / Will Vanderspar
Numis Securities	Tel: [phone]
Alex Ham / Jonathan Wilcox / Tom Jacob Berenberg Michelle Wilson / Alix Mecklenburg-Solodkoff	Tel: [phone]

Notes to Editors:

José Antonio Ramos Calamonte: biography and remuneration details

Age: 50

CV:

January 2021 - June 2022: Chief Commercial Officer, ASOS

2019 - 2021: Chief Executive Officer, Salsa Jeans, Portugal

2012 - 2018: Chief Commercial Officer, Esprit, Germany

2007 - 2012: Commercial Director Food and Commercial Director Textile and Home, Carrefour, Spain

2004 - 2007: Head of Distribution and Head of Kidswear, Inditex, Spain

1997 - 2004: Business Analyst and Associate, McKinsey & Company, Spain

Remuneration:

Base salary of £700,000 a year; annual bonus of up to 150% of salary; ASOS Long-Term Incentive Scheme (ALTIS) awards of up to 250% of salary; one off ALTIS award of 25% of salary, vesting of October 2024. Notice period of 12 months. Requirement to build up a shareholding equivalent to 200% of base salary.

Jørgen Lindeman: biography and remuneration details

Age: 55

CV:

November 2021 - now: Non-Executive Director, ASOS

2021 - now: Board member, Bambuser

2021 - now: Board member, MediaCatch

2021 - now: Member of supervisory Board, WaterBear

2021 - present: Board member, Amaticah

2021 - present: Board member Lindeventures 2

2016 - now: Chair, Miinto

2016 - 2021: Non-Executive Director, Zalando

2017 - 2020: Non-Executive Director, Kongregate

2015 - 2020: Chairman, DreamHack

2015 - 2020: Chairman, Turtle Entertainment

2012 - 2019: Chairman, Nova Broadcasting Group

2012 - 2019: Board member, Reach for Change

2012 - 2017: Non-Executive Director and Co Chairman, FTV Prima

2012 - 2015: Non-Executive Director and Co Chairman, CTC Media

1994 - 2021: Variety of roles, culminating in becoming President and Chief Executive Officer, Modern Times Group

Remuneration:

£350,000 a year

The Company confirms that there is no further information required to be disclosed pursuant to paragraph 9.6.13 of the UK Listing Rules.

Background note

ASOS is a destination for fashion-loving 20-somethings around the world, with a purpose to give its customers the confidence to be whoever they want to be. Through its app and mobile/desktop web experience, available in ten languages and in over 200 markets, ASOS customers can shop a curated edit of over 100,000 products, sourced from nearly 900 global and local partner brands alongside a mix of fashion-led own-brand labels - ASOS Design, ASOS Edition, ASOS 4505, Collusion, Reclaimed Vintage, Topshop, Topman, Miss Selfridge and HIIT. ASOS aims to give all of its customers a truly frictionless experience, with an ever-greater number of different payment methods and hundreds of local delivery and return options, including Next-Day Delivery and Same-Day Delivery, dispatched from state-of-the-art fulfilment centres in the UK, US and Germany.

 

END

 

 

STRBRGDLDUBDGDU