Oct 11, 2021

Asos changes up its chief executive

Beighton had been with the business for 12 years, six as its chief executive. Previous chairman Adam Crozier announced earlier this year that he was stepping down to take the chair at telecoms group BT. The company's results showed pre-tax profits up by 25 per cent on last year to £177m and revenues up by 20 per cent to £3.9bn. But after a boost in the early days of the pandemic last year, Asos's share price stands at half the level it reached in April following a July warning of muted trading - and well below its 2018 highs. Heathrow chief executive John Holland-Kaye has said the global aviation industry should aim for 2019 to have been the peak year for fossil fuel use in the business. Credit Suisse had hoped to release findings from the investigation at its third-quarter results next month, our banking team report, but with the report yet to be finalised, that deadline will now be missed. Last year the EU unveiled a radical blueprint for tech regulation that would put onerous responsibilities on the likes of Google, Facebook and Amazon to clean up their platforms and ensure fair competition.

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