Waterstones, the esteemed bookseller, has recently announced the appointment of Karen Ashworth, a former finance executive at Farfetch, as its new Chief Financial Officer. This significant move was officially confirmed in the company’s filings on Companies House earlier this week.
Karen Ashworth brings a wealth of experience to her new role at Waterstones. Prior to her appointment, she served as the finance director at Farfetch starting in 2017. Her exceptional performance in this position led to her promotion as the vice president of financial control in 2022.
This news comes in the wake of reports indicating that Farfetch, under new ownership by South Korean ecommerce giant Coupang, was undergoing a major restructuring. Specifically, the company announced plans to reduce its workforce by approximately 25% to 30% following the acquisition through a pre-pack administration deal. Farfetch explained to its employees in February that these measures were necessary to ensure the company’s financial stability and facilitate operational efficiency.
As a consequence of the restructuring, Farfetch has reportedly made staff reductions in key areas such as the product design team and the Farfetch Platform Solutions. This suite of commerce solutions and retail technology is designed for use by various brands and retailers.
The appointment of Karen Ashworth is anticipated to be a pivotal move for Waterstones, especially as the company seeks to navigate the ever-changing landscape of the retail industry. Her extensive background in finance, particularly within the context of a global ecommerce platform, will undoubtedly bring valuable insight and perspective to her new role.
This significant transition in leadership is a strong indicator of Waterstones’ commitment to maintaining financial stability and fostering growth in the challenging retail sector. With Karen Ashworth at the helm as the new CFO, the company is poised to make impactful strides in its future financial strategies and overall business performance.
In conclusion, the arrival of Karen Ashworth as the new CFO of Waterstones signals a compelling new chapter for the bookseller. As the retail industry continues to evolve at a rapid pace, the company’s strategic decision to bring in an experienced finance executive from the world of global ecommerce is a bold and proactive move. It is certainly a development worth watching closely as Waterstones charts a course for sustained success in the years ahead.