Adam Crozier, the former chief executive of ITV and Royal Mail Group, has been named the next chairman of Asos, the British online fashion retailer.
Sky News reported on Monday how he had been identified by AIM-listed Asos’s board as the leading candidate to replace Brian McBride, its chairman since 2012, who will step down in November.
Mr Crozier’s appointment at Asos underlines the growing maturity of the 18 year-old company, which achieved a significant milestone last November when it overtook Marks & Spencer in terms of its stock market value for the first time.
Since then, Asos’s shares have continued to trade higher, with the company now valued at £5.1bn, against M&S’s £4.79bn.
Asos said Mr Crozier would be appointed as chair and non-executive director on 29 November, following its AGM.
Image: Adam Crozier spent seven years at the helm of ITV after leaving Royal Mail
Ian Dyson, senior independent non-executive director, said: “On behalf of the board, I’d like to thank Brian for his contribution during a period of high growth for our company and I’d like to welcome Adam, who joins us at an equally exciting stage in our journey”.
Mr Crozier added: “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.”
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The Asos job adds to a growing portfolio of directorship roles for Mr Crozier, who stepped down as chief executive of ITV last year.
Since then, he has become chairman of Whitbread, the FTSE-100 hospitality group which is preparing to demerge its Costa Coffee division; Vue Entertainments, the cinema operator; and Stage Entertainment, the Dutch theatre producer behind the Lion King and Les Miserables
Source: Sky