// Asos non-executive director Karen Geary is to step down from her role at the retailer
// A search to appoint a new non-executive director is underway
Online fashion giant Asos has said non-executive director Karen Geary has decided not to seek re-election at this year’s AGM and will step down from the board at the conclusion of the AGM on December 1, 2022.
The retailer said in a statement that a search to appoint a new non-executive director is currently underway and that an announcement will be made as appropriate in due course.
Asos chair Jørgen Lindemann said: “On behalf of the Board, I would like to thank Karen for her significant contribution to Asos, particularly in her role as Remuneration Committee Chair and as the Board’s designated representative for employee engagement, and we wish her well for the future.”
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Last week Asos said that sales in August were weaker than expected amid pressure on consumers during the cost of living crisis, adding that its full-year profit would be around the bottom end of its guidance.
“After having seen good growth in June and July, sales in August were weaker than anticipated,” said the retailer.
The business said its sales measured in constant currency for the year to the end of August would rise by about 2%, while its net debt would be about £150 million, both below market consensus and company guidance.
Back in June, it forecast adjusted pretax profit for the year would be between £20 million and £60 million.
It said it remained cautious about the outlook for consumer spending but said it was “managing the business for the current environment”.
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