Retail Dive: ASOS Appoints Sean Glithero As Second Interim CFO

Feb 17, 2023

(Image Source: cottonbro studio/ Pexels)

Online fashion retailer ASOS recently named Sean Glithero as its second interim CFO while it continues its search for a suitable person to take up the permanent position. Prior to this, Sean has served as the CFO of luxury brand Matchesfashion, along with executive positions at a handful of other companies including Funding Circle and Auto Trader UK.

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Starting in May, the current interim CFO, Katy Mecklenburgh will step down to take uop another role. According to multiple sources, the CFO replacement is supposedly part of a greater series of executive moves, outlined in the “Driving Change” agenda. As part of the initiative, ASOS is forming a 12-person leadership team to cover a range of areas such as technology, strategy, supply chain, people and communications, and finance.

As of today, 75% of the positions have already been occupied by new talents from both internal and external teams. ASOS hopes that the personnel changes and other initiatives will help the business take off again after a long period of slumping growth. In 2022, ASOS reported a £32 million pre-tax loss. For the four-month period ending Dec. 31, sales in U.S and U.K markets both decreased, to 591 million pounds compared to the same period of the previous year. Overall total revenue decreased by 3%, according to the company. 

There appear to be various reasons for this decline, say the company executives, including inflation and COVID. While the downward trend is expected to continue in the first two quarters of this year, ASOS is hoping for the situation to improve, especially after the strategic personnel replacements that are taking place throughout the year .

Source: ASOS names second interim CFO amid turnaround plans

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