Stock Market News
ASOS CFO Helen Ashton to leave
ASOS said on Friday that chief financial officer Helen Ashton will be leaving the online fashion retailer in the summer.
After Ashton informed the company of "her desire to move on from her current role", it was agreed that she will step down as CFO and retire from the board on 30 April 2018. She will remain in employment until 31 August to ensure an orderly handover.
"The board expresses its appreciation for the contribution that Helen has made to the group during her tenure and wishes her all the very best in the next stage of her career."
Chief executive and former CFO Nick Beighton will cover Ashton's role until her replacement is identified.
Shore Capital analyst Clive Black pointed out that Ashton only joined the business back in September 2015.
"The news this morning is unexpected and raises some questions about why the change of CFO now given that the company is committed to a step up in the capital expenditure to £220 million in FY18 to fund infrastructure and additional technological developments.
"We wonder if there is more to this story than meets the eye and have reached out to the company to see if we can gain any further colour. In the meantime, we reiterate our positive stance noting a 3-year earnings per share compound annual growth rate of 26.2%, believing that ASOS will continue to be a structural winner, given the channel shift online."
At 0915 GMT, the shares were down 1% to 7,102p.
After Ashton informed the company of "her desire to move on from her current role", it was agreed that she will step down as CFO and retire from the board on 30 April 2018. She will remain in employment until 31 August to ensure an orderly handover.
"The board expresses its appreciation for the contribution that Helen has made to the group during her tenure and wishes her all the very best in the next stage of her career."
Chief executive and former CFO Nick Beighton will cover Ashton's role until her replacement is identified.
Shore Capital analyst Clive Black pointed out that Ashton only joined the business back in September 2015.
"The news this morning is unexpected and raises some questions about why the change of CFO now given that the company is committed to a step up in the capital expenditure to £220 million in FY18 to fund infrastructure and additional technological developments.
"We wonder if there is more to this story than meets the eye and have reached out to the company to see if we can gain any further colour. In the meantime, we reiterate our positive stance noting a 3-year earnings per share compound annual growth rate of 26.2%, believing that ASOS will continue to be a structural winner, given the channel shift online."
At 0915 GMT, the shares were down 1% to 7,102p.
Related share prices |
---|
ASOS (ASC) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price