The founder of online retailer Asos, Nick Robertson, has announced that he is stepping down as chief executive of the worldwide brand. Robertson, who found the company in 2000, has managed to turn Asos into a £160m online giant. Asos announced that Nick Beighton, now working at chief operating officer, will take over from Robertson immediately.
Chairman Brian McBride said in a statement on 2 September: "On behalf of everyone who works at Asos, I'd like to acknowledge Nick Robertson's extraordinary achievement. His passion and vision have built a start-up into a world-class company. We are all delighted that Nick will continue to contribute to the company that he started."
He added that he thought the company was very lucky to have Beighton at the ready to take over from Robertson. "Nick [Beighton] has unique experience of the company built over six years, equipping him to drive ASOS along its growth trajectory to become the world's leading online fashion retailer for twentysomethings".
Beighton has a financial background and was qualified as accountant at KPMG before joining the Asos. He was appointed chief operating officer in October 2014 after working as chief finance officer since 2009.
Robertson is thought to have a net worth of almost £175m and founded Asos as an online shop that would allow people to copy celebrities' looks for affordable prices, formerly called asseenonscreen.com.
Asos has had a tumultuous year, which included a warehouse fire that cost the company more than £30m. Its pre-tax profit in the year to February was £18m, down about 10% from the year before. However, as online shopping continues to be a strong market, the company is seen as a strong investment. Its share price has edged up by more than 1.6% since the start of 2015.