The chief financial officer of Missguided, Paul Masters, has left the company.
In filings made with Companies House, a Termination of Appointment of Paul Masters as Director was made on 30 June, 2017.
It is not known where Masters will go next, however a spokeswoman for the company assured the public that “Masters has left by amicable and mutual agreement following discussions around the long-term strategy for the business.”
Masters worked at Missguided for two years from 2015, during which time he oversaw the fashion brand’s huge growth, steering it from an online-only retail store to a bricks-and-mortar presence, with sales growing by over a third to £117.2million in 2016.
Masters departure comes as the brand considers other revenue options either via outside investment or an IPO and according to Sky News, investment bank Rothschild has been employed to help Missguided consider its options.
The spokeswoman for Missguided also went on to say: “Nitin Passi, CEO, would like to personally thank Paul for the tremendous contribution he has made to both the success of Missguided over the last two years and in laying foundations for the next phase of growth for the business. We all wish him every success in his career going forward.”
Masters was at Umbro for ten years where he worked his way up to director of group finance, before joining fashion brand Bench as finance director and later, interim CEO.