The Very Group has named former Matches and Asos boss Nick Beighton as a new non-executive director.
The Very and Littlewoods owner said Beighton will join its board as a representative of global investment firm Carlyle, which provided £85m in funding to the group in February.
He is joined by consultant Paul O’Donnell, who joins as a representative of international investment company IMI, the other half of the £125m funding package the retailer received earlier this year.
Beighton is currently the non-executive chair of online designer marketplace Secret Sales and non-exec at online fashion retailer Lookiero.
He stepped down as chief executive of Matches in March shortly after new owner Frasers Group pushed it into administration, and before that, was the boss of online fashion giant Asos.
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O’Donnell has over 20 years of M&A and corporate finance experience, serving as an advisor to public and private companies, as well as private equity funds.
Both appointments come as non-executive director Mark McMenemy retires from the retailer’s board.
The Very Group non-executive chair Nadhim Zahawi said: “I am delighted to welcome Nick and Paul to The Very Group’s board. Both bring a wide network of relationships, as well as leading expertise and unrivalled experience in helping ambitious businesses develop and grow.
“Their contributions will be invaluable and I look forward to working with them.
“On behalf of everyone at The Very Group, I want to thank Mark for his outstanding contribution. As former Group Finance Director and as a Non-Executive Director, he has played a vital role in shaping the company’s financial performance, governance and focus on ESG.
“His impact on the business and its people cannot be overstated, and we wish him a very happy retirement.
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