Asos shares jump after posting ex-Paddy Power boss to board
Asos has posted the former boss of Paddy Power to its board today, in a move which helped pushed the retailer’s share price up over 10 per cent.
The online retailer also announced this morning that it would be shifting to London’s main market, after two decades on the junior AIM index.
Patrick Kennedy, who joins as a senior independent non-executive director, is set to succeed Ian Dyson, the former finance and operations director at the Marks & Spencer group.
The incoming board veteran is also the chairman of the Bank of Ireland, having held positions at some of the biggest names in business over his three-decade career.
Kennedy began his career at KPMG and McKinsey & Company, before moving to London-listed Greencore as the Irish food company’s chief financial officer.
“On behalf of the board, I’d like to warmly welcome Patrick to Asos,” Dyson said in a statement, as he steps into the role of non-executive chair of the board.
“His deep experience across a diverse range of businesses will complement the existing skillset of the Board as ASOS embarks on its next phase of growth.”
Dyson also sits on the board of Flutter Entertainment, formerly Paddy Power Betfair.
Asos’ share price rose to 2,499.00p per share by mid-morning.