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HomeAll newsMost read newsBusiness Leaders Biography
Age : 53
Public asset : 56,087 USD
Linked companies : Whitbread plc
Biography : Mr. Adam A. Crozier is a Chairman at Vue International Ltd., a Chairman at Whitbread Plc and a Co-Ch

Whitbread appoints ex-ITV CEO Crozier as chairman

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01/04/2018 | 08:54am CEST

(Reuters) - Britain's Whitbread, owner of Costa Coffee and Premier Inn, on Thursday appointed as chairman Adam Crozier, a former chief executive of broadcaster ITV Plc (>> ITV) and Royal Mail Plc (>> Royal Mail).

(Reuters) - Britain's Whitbread, owner of Costa Coffee and Premier Inn, on Thursday appointed as chairman Adam Crozier, a former chief executive of broadcaster ITV Plc (>> ITV) and Royal Mail Plc (>> Royal Mail).

He will replace Richard Baker, who will retire at the end of February.

Crozier joined Whitbread's board last April and became senior independent director in September.

He was credited with restoring ITV's fortunes by reducing its reliance on advertising and expanding its production business.

He also spent seven years at Royal Mail where he set about restructuring the postal business in the face of opposition from unions. Prior to that he led the English Football Association (FA).

Whitbread, which has been the subject of break-up speculation in the past, warned in April of a tougher consumer environment, as rising inflation and muted wage growth weighed on consumer spending.

Last month, U.S.-based hedge fund Sachem Head Capital Management declared a 3.4 percent stake in the British hotel and coffee chain operator.

Sachem Head has previously taken activist positions at companies, though it is unclear whether it will push for changes at FTSE 100 <.FTSE> listed Whitbread.

(Reporting by Arathy S Nair in Bengaluru; editing by Jason Neely)

Stocks treated in this article : ITV, Whitbread, Royal Mail
Stocks mentioned in the article
ChangeLast1st jan.
FTSE 100 INDEX 0.28% 7234.11 End-of-day quote.-5.90%
ITV -0.50% 168.95 Delayed Quote.2.60%
ROYAL MAIL 0.44% 504.6 Delayed Quote.11.03%
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