REG - ASOS PLC - ASOS announces Board changes

ASOSAnnouncement

16/06/2022 07:00

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RNS Number : 0540P  ASOS PLC  16 June 2022

16 June 2022

 

 THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

ASOS Plc

 

ASOS announces Board changes

 

José 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                                                                                                                                                      Tel: 020 7756 1000
 Plc
 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
 (https://ir.design-portfolio.co.uk/viewer/38/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 £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.

 

 

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