TOP NEWS: BT hires former ITV and Royal Mail CEO Adam Crozier as chair

(Alliance News) - BT Group PLC on Tuesday named Adam Crozier as its new chair, a position he will ...

Alliance News 17 August, 2021 | 9:09AM
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(Alliance News) - BT Group PLC on Tuesday named Adam Crozier as its new chair, a position he will vacate at online retailer ASOS PLC.

BT said Crozier will take the chair from December 1, but will join the board as a non-executive director and chair designate from November 1. His appointment confirms a Sunday Times report from earlier in August.

Crozier is no stranger to the board rooms of London-listed blue-chip companies. He is also the chair of Premier Inn-owner Whitbread PLC, a role he will keep despite joining telecommunications firm BT.

Crozier was formerly chief executive of broadcaster ITV PLC, a position he held for seven years until June 2017. He is also a former CEO at postal service firm Royal Mail PLC and joint CEO at advertising agency Saatchi & Saatchi.

At BT, Crozier will be expected to stabilise the ship after the resignation of previous chair Jan du Plessis, whose relationship with Chief Executive Philip Jansen reportedly broke down. Crozier also will have to manage BT's relationships with UK regulator Ofcom and shareholders including Patrick Drahi.

Altice UK SARL, a company wholly owned by billionaire Altice Europe NV founder Drahi bought a 12% BT stake in June.

ASOS, meanwhile, said it has kicked off the search for a new chair.

"Adam will remain on the board and continue as chairman until 28 November 2021, which marks the end of his three-year term of office," the AIM-listed firm added.

Whitbread said it is "delighted" that Crozier is staying on as chair.

In addition to his experience with major London-listed firms, Crozier also is chair of data analytics company Kantar Group Ltd and was chief executive of the Football Association, football's governing body in England, between 2000 and 2002.

He is also a non-executive director at Japan's Sony Group Corp, though he will step down from that post on December 31.

Outgoing BT Chair du Plessis said: "I am delighted Adam is succeeding me. Chairing the board of BT over the past four years has been a tremendous privilege. BT is a truly unique and special business and what this company does really matters to so many people. I am immensely grateful to my fellow board members for their support and hard work during my tenure as chairman. I wish Adam every success as he joins the board at a very exciting time for the company and I wish BT the very best for the future."

BT shares were 1.9% lower at 172.65 pence each in London on Tuesday morning. Whitbread's stock was down 2.2% at 3,032.00p, while ASOS shares were off 1.3% to 3,869.00p.

In Tokyo on Tuesday, Sony shares fell 1.8% to JPY10,720 each.

By Eric Cunha;

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
BT Group PLC 140.60 GBX -0.21
ITV PLC 104.00 GBX 0.05 -
ASOS PLC 2,394.00 GBX -3.16
Whitbread PLC 3,369.00 GBX 1.69 -
Royal Mail PLC 421.90 GBX 1.27 -
Sony Group Corp 12,890.00 JPY 2.67

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