BT poaches Asos chairman Adam Crozier
BT has poached the chairman of online fashion giant Asos in a bid to boost the telecoms company’s standing during a crucial period.
Adam Crozier is expected to resign from Asos to take up the chairmanship of BT, but is set to remain in similar roles for data analytics firm Kantar and Premier Inn owner Whitbread.
The Sunday Times reports that Crozier, who was formerly chief executive at ITV and Royal Mail, beat out three other people for the job.
The telecoms firm has plans roll out full fibre broadband to 25m properties by 2026 and got a favourable ruling in March from Ofcom, which will ensure its subsidiary Openreach can make handsome profits from the investment.
BT shares have risen by 30 per cent this year in light of the news, however its stock price is still 25 per cent lower than when Philip Jansen took over as chief executive in February 2019.
Crozier will take over Jan du Plessis who resigned in March after clashing with Jansen.