Current Commercial Officer Set to Take the Helm
- Asos set to name José Antonio Ramos Calamonte as its new CEO
- Ramos Calamonte currently serves as the chief commercial officer at Asos
- Search for a new CEO delayed due to eBay’s Rob Hattrell turning down offer
- Nick Beighton stepped down as CEO in October 2021
- Asos reports pre-tax profits fell 115% in H1 FY22
- Company expects £14m hit from suspending sales in Russia, revenue growth to drop 2%
Asos is reportedly set to appoint José Antonio Ramos Calamonte, the current chief commercial officer at Asos, as its new CEO. The appointment follows the departure of Nick Beighton last year. The search for a new CEO was delayed due to attempts to headhunt Rob Hattrell from eBay’s European arm, who turned down the offer. Ramos Calamonte joined Asos in 2020 after leaving his role as CEO at Portuguese retailer Salsa Jeans and leading commercial strategy for Inditex’s Zara. Asos announced Beighton’s departure in October 2021, citing a focus on sustainability with its Fashion with Integrity program. In the latest half-year update, the company reported a 115% drop in pre-tax profits to £15.8m and expects a £14m loss from suspending sales in Russia.
Factuality Level: 8
Factuality Justification: The article provides accurate information about Asos’s CEO change and the company’s financial performance. It cites reliable sources such as The Sunday Times and includes relevant details about Ramos Calamonte’s background and Beighton’s departure. However, it could be more concise in some parts.
Noise Level: 3
Noise Justification: The article provides relevant information about the appointment of a new CEO for Asos and discusses the company’s financial performance. It also mentions supply chain issues and the suspension of sales in Russia. However, it lacks in-depth analysis or actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: Asos’s stock price and e-commerce sector
Financial Rating Justification: The article discusses the appointment of a new CEO for Asos, a major e-commerce company, which can impact its financial performance and stock price. It also mentions supply chain issues affecting revenue growth and the decision to suspend sales in Russia, which may affect the company’s financial standing.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.
www.retailsector.co.uk