Asos has confirmed the exit of chairman Adam Crozier, as the head jumps ship to take up the same role at telecommunications company BT.
In a statement made to investors, the online retailer said that Crozier informed the board that he “intends” to step down from the position he served for three years.
Crozier will remain on the board and continue in his role until 28 November 2021, before succeeding Jan du Plessis as chairman of BT. In addition, he will not put himself forward for re-election at Asos’s upcoming annual general meeting.
The announcement confirms speculation which arose last week, with The Sunday Times among the first to report that BT was looking to poach the chair.
It is understood that the appointment follows the decision by BT to roll out “full-fibre broadband” to 25 million premises by 2026, having received “favourable terms” in March from the industry regulator Ofcom.
Previously, he was chief executive of the Football Association, where he hired Sven-Goran Eriksson as the England manager, and eventually became the chief executive of Royal Mail.
Crozier said: “It is an honour to join the board of BT and to succeed Jan as chair. BT is a hugely important company, with a critical role to play in building the digital networks and services to support the UK’s future.
“I look forward to working with the board, Philip and his executive team to create value for all our stakeholders.”