Former ASOS chief executive Nick Beighton has stepped down from his role at the online fashion retailer. Now everyone is curious to know his net worth.
When Beighton joined ASOS, the company employed less than 200 staff and had annual sales of about £220 million. He leaves ASOS with a turnover of almost £4 billion and more than 3,000 workers. That’s some success story.
However, with so many new brands emerging in the fast-fashion sector, ASOS are finding it harder than ever to compete.
On Instagram, Beighton revealed how hard ASOS has been working on its environmental impact:
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Nick Beighton’s net worth explored
Nick Beighton’s total net worth isn’t confirmed but he is definitely a millionaire as last year his pay cheque was £3.1 million ($4 million).
The previous year he made £1.2 million and, as chief executive and executive director of ASOS, he was the highest-paid executive at the company.
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ASOS CEO resigns
The news Nick Beighton was stepping down as ASOS chief executive was unexpected, especially as it’s with immediate effect.
However, Beighton will make himself available to the business until the end of 2021 during the search for his replacement. In the meantime, chief financial officer Mathew Dunn will take on the additional role of chief operating officer.
Meanwhile, group finance director Katy Mecklenburgh has been promoted to interim chief financial officer and Ian Dyson will replace Adam Crozier as non-executive chairman.
Beighton had been chief executive of ASOS for 12 years and has obviously been a major asset to the business. His departure comes at a difficult time for the company amid warnings higher logistics costs and supply chain disruption could result in 2022 profits dropping by more than 40 per cent.
ASOS has set out big targets during the next few years. The retailer aims to boost annual revenue to £7 billion and will invest up to £250 million a year in the business.