TIDMASC
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: 020 7756 1000
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: 020 3805 4822
Susanna Voyle / Stephen Malthouse
JPMorgan Cazenove
Tel: 020 7742 4000
Bill Hutchings / Will Vanderspar
Numis Securities Tel: 020 7260 1000
Alex Ham / Jonathan Wilcox / Tom Jacob
Berenberg Tel: 020 3207 7800
Michelle Wilson / Alix Mecklenburg-Solodkoff
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 GBP700,000 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:
GBP350,000 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.
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END
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June 16, 2022 02:00 ET (06:00 GMT)
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