Money Asos names ex-ITV boss Adam Crozier as new chairman

13:26  03 july  2018
13:26  03 july  2018 Source:   msn.com

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LONDON (Reuters) – British online fashion retailer ASOS < ASOS .L> said on Tuesday Adam Crozier , the former boss of broadcaster ITV < ITV .L>, will succeed Brian McBride as its chairman . Crozier , the current chairman of hotels-to-coffee-chain group Whitbread , will take over from McBride

Adam Alexander Crozier (born 26 January 1964) is a Scottish businessman, and was former chief executive officer of media company ITV plc, operator of the ITV television network covering most of the United Kingdom.

Asos names ex-ITV boss Adam Crozier as new chairman © Provided by The Press Association Asos names ex-ITV boss Adam Crozier as new chairman

Online fashion firm Asos has confirmed former ITV and Royal Mail boss Adam Crozier will take over as chairman later this year.

He will succeed Brian McBride when he steps down on November 29 after six years heading the board.

Mr Crozier, 54, was previously chief executive of ITV until June last year, while he also headed up Royal Mail between 2003 and 2010.

  Asos names ex-ITV boss Adam Crozier as new chairman © PA

Former ITV boss Adam Crozier will become chairman on November 29 (ITV/PA)

He is also chairman at Costa Coffee and Premier Inn firm Whitbread – a post he took on in February – while he is also a director at cinema group Vue International and has served on the board at advertising giant Saatchi & Saatchi, outsourcing firm G4S and the Football Association.

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ITV has announced that Royal Mail boss Adam Crozier is to become the broadcaster's new chief executive. " ITV is a strong brand with talented people, facing an imperative for change as the media landscape evolves," said ITV chairman Archie Norman.

Jan 4 (Reuters) - Britain’s Whitbread, owner of Costa Coffee and Premier Inn, on Thursday appointed as chairman Adam Crozier , a former chief executive of broadcaster ITV Plc and Royal Mail Plc.

  Asos names ex-ITV boss Adam Crozier as new chairman © PA

He said: “The Asos story is truly impressive and I am tremendously excited to become part of it. I’m greatly looking forward to working with the team that is building a global powerhouse in online fashion.”

Asos senior independent director Ian Dyson praised outgoing chairman Mr McBride for his “contribution during a period of high growth for our company”.

He added: “I’d like to welcome Adam, who joins us at an equally exciting stage in our journey.”

Mr McBride said: “It has been a great honour and pleasure to have worked with Asos over these past six years and I wish the company continued success in being the world’s number one destination for fashion-conscious 20-somethings.”

Asos recently posted robust half-year results, but suffered a shares slump amid worries over higher-than-expected spending plans.

Investors baulked at the group’s plans announced in April to spend up to £250 million boosting its infrastructure to support sales growth.

The firm upped its spending guidance for the full-year for the second time in less than three months, now expecting capital expenditure of between £230 million and £250 million.

But its trading has continued to impress, with half-year results showing a 10% rise in pre-tax profits to £29.9 million for the six months to February 28.

It notched up a 22% surge in UK retail sales to £414.5 million in its first half, while international sales lifted 28% to £716.8 million on a constant currency basis.

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