Asos CEO Nick Beighton’s pay triples to 3.1 mn pounds

Nick Beighton, Chief Executive Officer of Asos will be receiving 3.1 million pounds (4 million dollars) of total pay compared to 1.2 million pounds last year, reports Retail Gazette quoting the company’s annual report.

Beighton, who joined the company and board, as chief financial officer in 2009 and took the expanded role of chief operating officer in 2014, succeeded founder Nick Robertson as the company’s Chief Executive in 2015. The report added that he managed to score almost 100 percent of his 2 million pounds (2.6 million dollars) long-term incentive awards and is now entitled to get a maximum 1.8 million pounds (2.3 million dollars) bonus next year.

According to the Asos website, during Beighton’s tenure, ASOS has grown both in the UK and around the world. Prior to Asos, he was head of finance at Matalan in 1999, later moving into the role of business change and IT Director. He joined the Matalan retail board in 2003. In 2005, Beighton joined the board of Luminar Entertainment Group as finance director, and became a member of the EU Ecommerce Task Force and the Future Fifty Programme Advisory Panel.

Asos reported retail sales growth of 34 percent to 1,876.5 million pounds (2,484 million dollars) for the year to August 31, 2017. Continuing profit before tax and exceptional items grew by 26 percent to 80 million pounds (105 million dollars), while profit before tax jumped 145 percent to 80 million pounds.

Picture:Asos website