MySale chairman to step down in December

By

Barbara Santamaria

Published
Nov 15, 2018

AIM-listed Australian clothing group MySale has announced that Iain McDonald will step down from his role as chairman on 3 December to focus on other business interests.

The online retailer, which operates flash sales sites in Australia, New Zealand, South-East Asia and the UK, has begun a process to appoint a new chairman of the board.

Iain McDonald commented: "After three years as chairman of MySale, I have taken the decision to step down in order to focus more time on the development of my technology investment business. It has been a tremendous experience to work with the team during this period and be a part of the MySale growth story, and I wish them well for the future."

McDonald, who joined the board as non-executive chairman in 2015, is the owner of Belerion Capital, a private equity firm which has invested in technology companies including Asos, The Hut Group, Boohoo, Metapack and Anatwine. He is also a non-executive director at The Hut Group, Boohoo.com, and Centralnic.

Carl Jackson, chief executive officer of MySale Group said: ''On behalf of the board I would like to thank Iain for his contribution, commitment and stewardship over the last three years and for his role in the strong progress the group has made over this time.''

In the year to 30 June 2018, the group achieved a 9% increase in revenue and 13% rise in gross profit, as its active customer base reached 1 million. During the year, MySale launched Select, a delivery subscription service and expanded its proprietary buy-now, pay-later solution, Ourpay.