AO has revealed that they have appointed Brian McBride (pictured), the head of Asos and former MD of Amazon UK, as a non-executive director. The appointment comes as AO plan a placing and float on the London Stock Exchange next month in a bid to raise around £60m. John Roberts, co-founder and chief executive of AO was positive about the upcoming move.
“AO has a strong track record of revenue growth and profitability and I am excited about the opportunities ahead as we continue to grow our new AO.com brand. We are exploring opportunities to expand the range of products and services that we offer and to internationalise our business,” Mr Roberts said.
“I believe these initiatives have the potential to deliver a significant change in terms of our addressable market and that a London listing will give us the platform to continue to grow our business. Ultimately, it is our ambition to be a leading European online electrical retailer.”
DRL Holdings, the owner of AO, said the proceeds of the IPO move will be used to support growth and potentially roll-out across Europe in the near future.