Farfetch CFO to stand down amid slowing revenues
According to the company, it will begin searching for Elliot Jordan’s successor while he remains in the post through the remainder of 2023
Farfetch has announced that the group’s chief financial officer, Elliot Jordan, will step down by the end of 2023, after more than eight years in the role.
The news comes as fourth quarter revenue fell 5% in 2022 to $629m (£523m), while its gross merchandise value decreased 12% in the same period.
According to the company, it will begin searching for Jordan’s successor while he remains in the post through the remainder of 2023.
Jordan joined Farfetch in January 2015. Since that time, the company has grown its annual GMV from $380m (£315.9m) to $4.1bn (£3.4bn) for the years ended 31 December 2015 and 2022, respectively.
In addition, he has helped guide the group through its transformation from a private company to a publicly traded company, including its listing on the New York Stock Exchange in September 2018.
José Neves, founder, CEO and chairman of Farfetch, said: “Elliot has been a fantastic CFO, and I very much appreciate his continued commitment to the business until the end of the year. I look forward to working with Elliot to ensure a smooth transition.
“We are some way off from saying our ‘goodbyes’ but his legacy will be formidable finance and business services teams that are part of a company that we believe is extremely well placed to continue to lead the industry and drive profitable growth – and Elliot has been an important building block of our success.”
Jordan added: “I have thoroughly enjoyed the last eight years as CFO of Farfetch and couldn’t be more proud of all we’ve achieved in that time. I want to thank José and all the talented people I have worked with in building this incredible company and will miss working with the highly passionate and knowledgeable members of my team who have supported this company to scale to where it is today.”
