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 rejoined 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 FD at The Very Group from 2012-15.
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 some £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 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. Prior to that, Nick was head of finance and an executive board member at Matalan, responsible for business change and technology, and has also been FD of Luminar.
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 MD 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, says: “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 FD 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.”
