After fifteen years in charge of Asos, Nick Robertson has now decided to step down immediately as CEO of the British online retailer. Nick Beighton, the current Chief Operating Officer, will be his successor.
Robertson led Asos to become one of the largest online fashion sellers in the world, but in recent years growth has started to slow down, particularly abroad. A major warehouse fire last summer completely paralyzed the company as sales had to be halted temporarily, leading to huge losses. For that reason, Asos had to send out three profit alerts in 2014.
The company seemed to be back on track in the first months of 2015, mainly because of price adjustments on a local level - it used to sell products at the same pricing everywhere.
Nick Beighton has been with the company for a while now, first as its Chief Financial Officer and then as the Chief Operating Officer, but he will now take over as Chief Executive Officer.