Missguided’s online chief executive Gareth Jones has left the business after less than a year in the role.

Jones joined the fashion retailer last September and was seen as a second-in-command to founder and group chief executive Nitin Passi.

When he appointed Jones, Passi hailed Jones’ leadership and strategic capabilities.

He said: “This further demonstrates how serious we are about continuing the growth trajectory the business has experienced to date.”

Jones previously held senior roles at Shop Direct as group retail director and deputy chief executive.

Missguided said: “It’s with mutual agreement that Gareth Jones has left the business. We wish him all the best with future endeavours.”

Missguided is one of a coterie of fast fashion etailers currently dominating the clothing market.

The business has been tipped for external investment in 2019, with Missguided appointing Rothschild to examine options including a float or sale.

Despite its meteoric rise and top-line growth, Missguided has struggled to control its bottom line amid heavy investment in flagship stores in Westfield, Stratford and Bluewater, and in developing its digital strategy.

In February, the business launched a redundancies programme with a view to cutting 50 of its 800 staff in February.