Belfast Telegraph

Asos names ex-ITV boss Adam Crozier as new chairman

Mr Crozier will succeed outgoing chairman Brian McBride on November 29.

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.

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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.

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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