LONDON — Former ITV and Royal Mail chief Adam Crozier has been named chair and non-executive director of British online retailer Asos.com, the company said Tuesday.
Crozier, 54, is a former chief executive officer of Britain’s Royal Mail and ITV, and will succeed Brian McBride in the role as of Nov. 29. McBride is stepping down after six years at the helm of the board.
Crozier is also chair of Whitbread Plc, the hospitality, food and beverage company, and of the Vue International movie theater chain.
Ian Dyson, senior independent non-executive director, said Crozier joins Asos “at an exciting stage in our journey.” Crozier said he is “looking forward to working with the team that is building a global powerhouse in online fashion.”
Turnover at Asos was up 27 percent to 1.16 billion pounds in the six months to Feb. 28. The company’s profit before tax in the period climbed 11 percent to 29.9 million pounds.
The company said retail sales grew 27 percent on a reported basis and 26 percent on a constant currency basis. Asos confirmed it had a cash balance of 37.7 million pounds reflecting working capital and capital expenditure investment.
The company has a market capitalization of 5.2 billion pounds, with shares up 2.3 percent to 62.60 pounds in late afternoon trading on Tuesday.