Gymshark’s Chief Financial Officer, Mat Dunn, has stepped down after less than two years in the role. Dunn, who joined in December 2022, played a key role in evolving the financial operations.
- The company is in the midst of an expansion initiative, with plans to open several new stores in 2025.
- Dunn’s leadership coincided with fluctuating financial results, including a drop in pre-tax profit but a rise in sales.
- The departure aligns with Gymshark’s strategic retail expansions.
- A spokesperson expressed gratitude for Dunn’s contributions during his tenure.
Gymshark has announced the departure of its Chief Financial Officer, Mat Dunn, after a tenure lasting less than two years. Dunn was initially brought into the company in December 2022, transitioning from Asos, where he held dual roles as Chief Operating Officer and Chief Financial Officer. A spokesperson from Gymshark stated, “Mat Dunn was employed as chief financial officer from December 2022 to November 2024. During that time, Mat was instrumental in evolving our finance and commercial functions, and we thank him for all he contributed.”
Amidst Dunn’s leadership, Gymshark has been actively engaging in a significant expansion program. This initiative includes the opening of three new permanent retail locations and a pop-up store projected for 2025. This expansion follows the recent unveiling of their second UK flagship store situated in London’s Westfield Stratford City during the autumn season.
The period of Dunn’s leadership also saw noticeable changes in the company’s financial performance. For the fiscal year ending July 31, 2023, Gymshark reported a pre-tax profit of £13 million, a marked decrease from £27.8 million in the previous year. However, during this same timeframe, the company experienced a 14% increase in sales, reaching a total of £556.2 million.
Dunn’s departure occurs within a context of strategic growth and financial recalibration for Gymshark. As the company aims to solidify its market standing, it continues to focus on expanding its retail footprint, ensuring it remains competitive in a dynamic sector.
Mat Dunn’s exit marks a period of strategic transition and continued expansion for Gymshark.
