Former Royal Mail and ITV chief Adam Crozier named new chairman of Whitbread

Adam Crozier
Industry
04/01/2018 - 08:50
Former chief executive of the Royal Mail and ITV plc Adam Crozier has been named the successor to Richard Baker as chairman of Costa Coffee owner, Whitbread.

Baker will step down from his role on 28 February 2018 after four years in charge and nine years on the company’s board after deciding to ‘scale back his business responsibilities'.

Crozier moves from ITV having been in charge of the terrestrial television network since 2010.

As well as running the Royal Mail, he has also been chief executive of The Football Association (FA) between 2000 and 2002 as well as joint chief of Saatchi & Saatchi from 1995-2000. 

“Whitbread has two great brands in Premier Inn and Costa, with 50,000 colleagues delivering terrific customer service every day,” said Crozier.

“We have a very strong management team and an exciting plan to continue to deliver growth in our core UK businesses, whilst developing our international business through growth in Germany, China and Costa Express.  

“I am delighted to become chairman of Whitbread and to help steer the company through the next chapter of its long history. I would also like to thank Richard on behalf of the whole Whitbread team for his wisdom, enthusiasm and commitment during his nine years on the board, during which time the company has grown earnings each year and created significant value for shareholders.”

Baker will step down from the helm next month to coincide with the end of Whitbread's financial year.

He said: “As I now approach my ninth Whitbread year end, we are executing our strategic plan to build a bigger and better Whitbread for the benefit of all stakeholders.

“We have a well established chief executive and executive team, a refreshed board, and considerable momentum in delivering this plan. This aligns with a personal intention I had, earlier last year, to progressively scale back my business responsibilities, so now is the time to hand over the chair.

“Adam has had a long and successful executive career and I am pleased the board has selected such a strong candidate to lead Whitbread through its next era of development. It has been a privilege to work for Whitbread during such a time of growth and success."

Along with it’s two pre-eminent businesses in Costa and Premier Inns, Bedfordshire-based Whitbread also operates the Brewers Fayre and Beefeater pub and restaurant chains.

The FTSE 100-listed company's shares were up 0.7% as of this morning (4 January).

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