Media
The Very Group appoints two Non-Executive Directors
September 3, 2024
The Very Group, which operates digital retailer Very, has appointed Nick Beighton as representative of global investment firm Carlyle and Paul O’Donnell as representative of international investment company IMI to the Company’s Board as Non-Executive Directors.
Non-Executive Director Mark McMenemy has retired from The Very Group’s Board. He re-joined the company in 2019 having given up executive roles to accommodate non-executive and consulting positions. Mark has Chaired the Board’s Audit and Risk Committee and, most recently, its ESG Committee. Prior to this, he was Group Finance Director at The Very Group from 2012 to 2015.
The appointments of Nick and Paul follow the announcement in February 2024 that The Very Group had entered into a partnership with Carlyle and IMI, and that alongside a £125m funding package, of which c.£85m from Carlyle was immediately available for the company, each firm would take a seat on the company’s board.
Nick Beighton is Non-Executive Chair of online designer marketplace Secret Sales, as well as Non-Executive Director at online fashion retailer Lookiero and at Raging Bull, a heritage clothing brand. He is the former CEO of ASOS, which he joined in 2009 as CFO and COO, becoming CEO in 2015. Under his leadership, ASOS became one of the leading fashion destinations globally and when he left the digital retailer in October 2021, revenue had grown to £3.9bn. Prior to ASOS, Nick was Head of Finance and an Executive Board member at Matalan, responsible for business change and technology, and has also been Finance Director of Luminar Plc.
Paul 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. He is currently a Non-Executive Director and Audit Committee member at Nordic Aviation Capital and EnerMech, and he served as an Alternate Director at McLaren Group. Paul was previously a Managing Director at Blackstone, prior to which he worked at Close Brothers Corporate Finance (now DC Advisory) and PwC, where he qualified as a chartered accountant.
Nadhim Zahawi, Non-Executive Chair of The Very Group, 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.”
Contact information
Investor enquiries
Investor.relations@theverygroup.com
Media relations
Eilis Murphy (Brunswick) 020 7404 5959
Dave Lafferty (The Very Group) 07552 283 266
Notes to editors
About The Very Group
With annual revenue of £2.1bn, The Very Group is a unique digital business that combines online retail and flexible payments. Our digital retail brands, Very and Littlewoods, help to bring over 2,000 desirable labels within easy reach of more customers.
Across electrical, home, fashion and more, we sell everything our 4.4 million customers could need, except food. And our flexible payment options, which are provided responsibly via our Very Pay platform and regulated by the Financial Conduct Authority, help our customers manage their household budgets.
For more information, follow us on LinkedIn and Instagram.
