// Gymshark taps former Asos CFO and COO Matt dun as its new Chief Financial Officer
// In his new role, he will look to help “make Gymshark become a global powerhouse
Gymshark has named former Asos chief operating officer and chief financial officer Mat Dunn as its new Chief Financial Officer.
Dun, who stepped down from the online fashion retailer last month will join the gym wear giant in early 2023, replacing outgoing CFO Philip Daw.
He is the latest in a recent wave of senior appointments at Gymshark, following Danielle Petesic joining from Lululemon as Chief Product Officer, John Douglas joining from Burberry as Chief Technology Officer and Carly O’Brien joining from The Very Group as VP, Marketing.
Dun joined the board of Asos in April 2019 as CFO before taking on the additional role of COO in October 2021, he also served a period as interim Chief Executive following the departure of the previous CEO in late 2021.
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In his new role, he will look to help “make Gymshark become the global powerhouse and iconic brand he and all the senior leadership believe it can be” and will report directly to founder Ben Francis.
Dunn takes over from outgoing CFO Philip Daw who joined the business in 2015, when Gymshark was turning over £10m.
In its last financial year, Gymshark reported revenues of almost £500m and the company added that “Philip was also instrumental in securing the partnership with General Atlantic in August 2020”, a deal which saw Gymshark become only the second British company in history to achieve ‘Unicorn’ status with no prior investment.
Mat Dunn said: “Gymshark is a brand I’ve admired from afar for a long time. There are very few British companies that could become a global leader in such a short space of time. As soon as I met Ben and the team, I felt the energy, ambition and belief that this is just the beginning for this brand.
“With the strategy for making Gymshark a 100-year brand, the support and backing of General Atlantic and the deeply impressive set of individuals I’ve met so far, I’m incredibly excited for what the future holds for this company that started in a garage in Birmingham. I cannot wait to get started.”
Founder and chief executive Ben Francis said: “In Mat, we are getting one of the best CFOs, not just in retail, but in business globally. His record for growth at ASOS, Britvic and SABMiller speaks for itself. He will bring a new dimension, both to our financial operation and Gymshark as a whole and he will undoubtedly help us grow into the company I truly believe we can be. I’d also like to thank Philip Daw for his service and the role he has played in building Gymshark into the company you see today.”
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