Mat Dunn, Gymshark’s CFO, has left the company two years after joining.
- The departure was quietly noted in a Companies House update with no formal announcement from Gymshark.
- Dunn, formerly of ASOS, had a significant role in refining Gymshark’s financial strategies.
- His tenure saw a notable drop in pre-tax profits despite rising revenues.
- The search for Dunn’s successor is currently underway, with no public comments from Gymshark.
Mat Dunn’s exit from Gymshark two years after his appointment was subtly revealed in a Companies House update. The company did not disclose any further details or issue a formal statement regarding this change.
Dunn, who was formerly the chief operating officer at ASOS, took over the CFO role at Gymshark in 2022. He stepped into the position previously held by Philip Daw and was credited with playing an instrumental role in the transformation of the company’s finance and commercial sectors.
During his administration, Dunn oversaw the financial reports indicating a decline in pre-tax profits to £13.1 million for the fiscal year ending in July 2023. This figure represented a 53% drop from the prior year, largely attributed to an unexpected spike in costs.
However, Gymshark highlighted that costs were beginning to stabilise, and the company experienced revenue growth from £484.4 million to £556.2 million. Despite the challenges, Gymshark indicated an ongoing commitment to strengthening its financial framework.
The process of appointing a new CFO is in progress, but the company has not provided additional information about potential candidates or a timeline for the announcement.
The departure of Mat Dunn creates a pivotal moment for Gymshark as it seeks to appoint new leadership in its financial department.
