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MySale appoints The Hut Group director as non-executive chairman

Australian flash Sales site MySale has appointed The Hut Group’s Iain McDonald as non-executive chairman.

McDonald is a non-executive director at The Hut Group and etailer Atterley Road and a partner with the William Currie Group, which invests in technology and ecommerce firms. He has joined MySale today (July 27).

MySale’s current non-executive chairman David Mortimer, who is based in Australia, will remain on the board as a non-executive director.

Non-executive director Adrian MacKenzie, also in Australia, has stepped down in order to “dedicate sufficient time to his other business interests”.

Chief executive Carl Jackson said McDonald would bring a “wealth of online retail and significant UK capital markets experience” to the business.

MySale’s underlying EBITDA for the second half to June 30 broke even, in line with guidance. In the first half it made an EBITDA loss of A$11.4m (£5.7m).

Sales increased by 5% to A$235m (£110m) in the second half.

The group has appointed Zeus Capital as its nominated advisor and sole broker.

Jackson said: “The last 18 months have been exceptionally busy for the group and in some respects quite challenging, but we look to the future with renewed confidence.

“The momentum of restoring profitability continues into the current year and in the long term we shall benefit from the strong foundations we have laid.”

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