Lord Waheed Alli is stepping down as Chairman of online fashion retailer ASOS after 12 years with the company and will be succeeded by Amazon UK's Managing Director, Brian McBride.
ASOS's Chief Executive Officer Nick Robertson said on Monday morning: "I would like to thank Waheed for his significant contribution to the development of the company.
"Waheed has been with us from the very beginning and played a major role in the ASOS story.I would like to express my gratitude, along with the rest of the board."
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Alli is also the Chairman of media group Silvergate, which specialises in children's TV, publishing and merchandising. He was appointed to the House of Lords in 1998.
McBride, who has a background in technology and retailing, was the MD at Amazon in the UK for almost six years and has held senior positions previously at IBM, Dell and T-Mobile.
Robertson said that McBride is joining ASOS at an exciting time, "as we continue to internationalise the business and march towards our target of £1bn sales per annum".
"[McBride] has a wealth of relevant experience, not just in e-commerce and technology but in fast growth International businesses," Robertson said.
Meanwhile, McBride said in a statement: "ASOS shares many of the attributes that have made Amazon a global retailing powerhouse and I'm delighted to join the team at such an exciting time.I believe the company has the platform, proposition and ambition to deliver its vision of becoming the fashion destination for twenty somethings, globally."
ASOS's shares have gained around 20% over the past six months, helped by its robust performance at the end of its financial year. Group revenues jumped 31% in the fourth quarter to £145.2m, the company announced last month.
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