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ASOS recruits "company doctor" as it seeks to shore up financial performance

Chloe Burney
26 January 2023

ASOS has appointed Scott Millar, dubbed a "company doctor", as the online young fashion giant seeks to shore up its financial performance.

Scott Millar, a senior managing director at the professional services firm Ankura, has been appointed by ASOS to join its finance department, Sky News has reported.


It is understood that Miller will act as interim director of finance projects as ASOS. He has previously worked with several leading insolvency practitioners including AlixPartners, which has recently been advising ASOS's lenders on their exposure to the company, and has been chief restructuring officer at Interserve, the former outsourcing giant.

In common with many in the online fashion space, ASOS enjoyed a boost in sales during the initial phase of the pandemic but following the pandemic it was hit by increasing returns, falling demand and, in the lead up to peak trading last year, it faced delivery disruption due to postal strikes,

In the last year it has also undergone a significant shake-up of its boardroom appointing a new chairman, CEO and CFO. Former chief commercial officer José Antonio Ramos Calamonte was appointed as CEO in the summer, replacing former chief Nick Beighton, who is now heading up

Earlier this month ASOS reported that sales had dropped 3% in the four months ending 31 December but that it was making good progress with its 'Driving Change' agenda that will shift the focus from sales growth to profit.

José Antonio Ramos Calamonte, CEO at ASOS, commented at the time: "We are undertaking necessary strategic and operational changes, with our focus shifting from prioritising top-line growth to building a more relevant and competitive fashion business with a disciplined approach to capital allocation and ROI. At the same time, we are working to reinforce our credibility as a leading destination for our fashion-loving customers."

ASOS's total group revenue in the four month period dropped to £1.34 billion, which it said was in line with expectations, with the UK dropping 8% (to £591.3m) due to a sales hit in September due to the Queen's death and disruption from industrial action from the Royal Mail discouraging e-commerce sales.

Other online fashion retailers, including Boohoo, reported similar disruption, which revealed an 11% drop in sales in the same four-month period.

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