Asos appoints former ITV boss Crozier as chairman elect

Asos has appointed Adam Crozier, former ITV and Royal Mail boss, which has led to speculation that this could spark the online retailer to move home from AIM up to the full list and a possible place in the FTSE 100.

The fast-growing fashion retailer's current chair, Brian McBride, will step down in November after six years in the role.

The appointment of a new chairman completes the transition to a new top team that began three years when Nick Beighton replaced Asos founder Nick Robertson as chief executive, while chief financial officer Helen Ashton announced her departure in March but has not yet been replaced.

Since leaving ITV, Crozier has begun to build a portfolio career, with positions on the board of Vue International and Stage Entertainment, as well as recently joining the board of Whitbread, becoming chair in February and soon overseeing the decision to spin off its Costa Coffee arm.

As a relatively young and thrusting new chairman, he might be looking to effect change at Asos, which has a market capitalisation of more than £5.1bn but is listed on London's junior AIM market. At that market valuation Asos is larger than six or seven of the current FTSE 100 constituants.

Analyst Greg Lawless at Shore Capital said the appointment of Crozier "looks a sound appointment" and comes ahead of a third-quarter trading statement next Thursday, 12 July.