Really detailed and compelling analysis on this controversial company. I got interested in ASOS when I read about Nick Sleep's fund that allocated - maybe - a large chunk of capital (sold part of Amazon and bought ASOS and that was for me a very strong/tough decision!).
Governance still not convincing and to me this is the weakest link to a clearer and more solid bull case:
1) What's the role of the Danish largest shareholder in the appointment of the new CEO? Unclear. And again on this, they apparently searched for many months a CEO and then appointed the sales director in the role. Really confusing strategy? Moreover, the danish shareholder retains a stake in Zalando too.
Really detailed and compelling analysis on this controversial company. I got interested in ASOS when I read about Nick Sleep's fund that allocated - maybe - a large chunk of capital (sold part of Amazon and bought ASOS and that was for me a very strong/tough decision!).
Governance still not convincing and to me this is the weakest link to a clearer and more solid bull case:
1) What's the role of the Danish largest shareholder in the appointment of the new CEO? Unclear. And again on this, they apparently searched for many months a CEO and then appointed the sales director in the role. Really confusing strategy? Moreover, the danish shareholder retains a stake in Zalando too.
2) What is going to do Fraser with the stake?
3) CFO still missing.
Good to stay in touch and monitoring.
Best regards.