Farfetch chief financial officer to step down
Luxury fashion platform Farfetch has announced that its chief financial officer Elliot Jordan will be stepping down by the end of 2023 after eight years in the role.
The company said it will be initiating a search process to identify his successor.
José Neves, Farfetch founder, chief executive and chairman, said: “Elliot has been a fantastic CFO, and I very much appreciate his continued commitment to the business until the end of the year. I look forward to working with Elliot to ensure a smooth transition.
“We are some way off from saying our ‘goodbyes’ but his legacy will be formidable finance and business services teams that are part of a company that we believe is extremely well placed to continue to lead the industry and drive profitable growth – and Elliot has been an important building block of our success.”
Farfetch has also announced that its revenue grew by 3% year-on-year to $2.3 billion across 2022. However, revenue declined by 5% in the final quarter of the year to £629 million.
Neves said: “I am proud to report Farfetch adeptly navigated unprecedented macro headwinds throughout 2022 to deliver growth on a constant currency basis.
“Farfetch enters 2023 as a significantly more efficient business following our strategic reorganisation and cost rationalisations.
“Our solid start to the year gives me confidence 2023 will be a year of execution with growth building throughout the year as we comp the previous year’s macro headwinds and launch exciting new partners to deliver strong growth, Adjusted EBITDA and positive free cash flow.”
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