MySale Group appoints CFO
MySale has hired Mats Weiss as its new chief financial officer after posting lower sales and an underlying EBITDA loss in January.
Weiss has been appointed as CFO and a director on the board, with immediate effect.
He has significant experience leading finance operations at top companies. During his career, he held various senior financial and strategy roles, including vice president of regional finance and group finance director at Twentieth Century Fox Australia & New Zealand.
Prior to that, he worked at Philip Morris International as finance director between 2001 and 2008.
Carl Jackson, CEO of MySale commented: “We are delighted to announce the appointment of Mats as CFO and director of the board to MySale and look forward to working with him as part of our team as we continue to execute our 'ANZ First' strategy focused on our inventory-light marketplace platform.”
Weiss will be in charge of managing the group’s finances as it moves forward with its transformation. Listed on the London Stock Exchange, MySale has pivoted strongly from its global model, based on a portfolio of flash sale sites in markets including the UK, US, Europe, Australia and southeast Asia, to focusing mostly on Australia and New Zealand.
Last year, the group sold its UK-based Cocosa operation for £1.5 million, closed its UK and US warehouses, and withdrew from the Philippines and Thailand. The leadership team has now relocated to Sydney to focus on executing the ANZ-First strategy.
The company will take a while to adjust to the new focus. An update released in January showed that revenue for the six months to December 31 was in line with expectations at A$71.9m, while underlying EBITDA loss was A$3.6m.
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