By Leah Montebello
Asos shares are down over eight per cent this afternoon after a top exec Mat Dunn said he would be stepping down from the company.
The retailer’s board said it had agreed that Mat Dunn, Chief Operating Officer and Chief Financial Officer, would step down from his roles as the firm restructures its executive team.
Dunn will continue in his role and as a member of the board until at least 31 October and will remain employed until the end of the year to provide transitional support.
He first joined the board in April 2019 as CFO before taking on the additional role of COO in October 2021.
ASOS Chairman Jørgen Lindemann said: “I would like to thank Mat for the enormous contribution he has made to ASOS over the past three years, and in particular during his time as interim CEO.”
Dunn commented: “I have very much enjoyed my time at ASOS. We have achieved a lot over the last three years and the business is stronger as a result and I am sure will go on to great success.”
The online marketplace issued a profit warning back in June, stating that inflationary pressure and the war in UK had started to chip away at profits.
A process is underway to appoint a new CFO for the firm.
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