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Asos bosses' bonuses cut

Following failure to hit targets, Asos bosses have had their bonuses cut for the first time in four years.

The Telegraph reports that chief executive Nick Beighton has had his base salary frozen at £565,000 as well as losing out on a bonus of hundreds of thousands.

Asos announced a 28% increase in profit before tax to £102m for the year to 31 August. However, the business revealed its target was to exceed that figure.

“As a result, no bonus award has been made to the CEO, CFO or any other employee for the period to 31 August 2018,” the company said.

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