Asos names new chairman as it steps up Barnsley expansion

Asos appeals to savvy 20-somethings
Asos appeals to savvy 20-somethings
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Online fashion firm Asos has appointed former ITV and Royal Mail boss Adam Crozier as its new chairman.

He will succeed Brian McBride, who will step down on November 29 after six years heading the board.

Mr Crozier joins Asos at a time when the company is rapidly expanding its main warehouse in Barnsley, which is the town’s biggest private sector employer with around 4,000 people working at the site.

The company said work is continuing at the warehouse to increase its stockholding capacity through the construction of an additional mezzanine, which will increase capacity by a further 10 per cent and is near to completion.

The construction is part of a £13m investment in the site which will also deliver upgrades to the restaurant, locker rooms, relaxation spaces, the introduction of a well-being centre, as well a new office space and additional car parking provision.

The site has increased the minimum wage to the UK Living Wage Foundation rate of £8.75 for all workers after three months service and intends to create 500 fixed term contracts around Christmas. It has also maintained 60 warehousing apprentices through its relationship with Barnsley College.

​​Mr Crozier 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.” ​

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

​​He is also chairman at Costa Coffee and Premier Inn firm Whitbread - a post he took on in February. 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.

Asos senior independent director Ian Dyson said: “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.”

A​nalyst Greg Lawless at Shore Capital said: “Adam Crozier has widespread experience across a range of sectors including the Football Association, Royal Mail and most latterly ITV.

“After an executive career Adam has built a portfolio of directorships which currently includes being chairman of Whitbread, Vue International and Stage Entertainment.

“The transition to a new chairman completes the transition to a new top team that began three years when Nick Beighton replaced Asos founder Nick Robertson as CEO. The company is yet to replace Helen Ashton as CFO, who announced her departure earlier this spring. The appointment of Adam Crozier as chairman later this autumn looks a sound appointment.”

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 to spend up to £250​m boosting its infrastructure to support sales growth.

The firm’s half-year results showed a 10​ per cent​ rise in pre-tax profits to £29.9​m for the six months to February 28. It reported a 22​ per cent​ surge in UK retail sales to £414.5​m in its first half, while international sales ​rose​ 28​ per cent​ to £716.8​m on a constant currency basis.