Asos International Head Kamaluddin to Step Down After Nine Years
Stock Chart for ASOS PLC (ASC)
Asos Plc, (ASC) the U.K.’s largest online-only clothing retailer, said Jon Kamaluddin will step down after pioneering a strategy of international expansion that has seen it enter markets from the U.S. to Australia.
Kamaluddin, who became international director in 2009 after about five years as finance director, will depart the board in October and leave the company by December, London-based Asos said today. A process to appoint his successor is under way.
The proportion of sales from international markets has risen from about a fifth to two-thirds since Kamaluddin took over the running of the division in 2009. International revenue rose 64 percent to about 333 million pounds ($509 million) in the financial year ended Aug. 31. In addition to the U.S. and Australia, Kamaluddin has led an expansion that has seen Asos enter Russia, Singapore, China, France, Germany and Italy.
Asos fell as much as 2.2 percent in London trading and was down 1.4 percent at 3,087 pence as of 10:54 a.m.
To contact the editor responsible for this story: Celeste Perri at email@example.com