Smirk: Adam Crozier has enjoyed a successful career at Royal Mail, the Football Association and Saatchi and Saatchi

Vue cinemas signs former ITV boss Adam Crozier 

Speculation is rife that the Vue cinema chain will list on the London Stock Exchange after the group appointed former ITV boss Adam Crozier as chairman.

Crozier, who stepped down from ITV in June, joins Vue with immediate effect. Vue has been eyeing a float – or a possible sale – for over a year and analysts hope the signing will lend the group some gravitas.

Earlier this summer management brought in the services of top investment banks Rothschild and JP Morgan to explore options.

Smirk: Adam Crozier has enjoyed a successful career at Royal Mail, the Football Association and Saatchi and Saatchi

Smirk: Adam Crozier has enjoyed a successful career at Royal Mail, the Football Association and Saatchi and Saatchi

Vue is owned by Canadian investors Omers and Alberta Investment Management Corporation and it is thought that Crozier’s appointment could provide them with an exit opportunity.

The Canadian duo bought Vue for £935million in 2013 from Doughty Hanson, but it is thought that any deal now would value the chain at over £1.5billion.

Crozier – who is 53 – has enjoyed a lucrative career, heading up ITV, Royal Mail, the Football Association and Saatchi and Saatchi.

Crozier said: ‘I have watched the development and growth of Vue International with great interest and am excited to be joining the group to play an active role in furthering their future ambitions.

Adam Crozier CV

Adam Crozier served as chief executive of ITV from 2010 until 2017.

Before that he was chief executive at Royal Mail from 2003 to 2010.

He has also been boss at the FA from 2000 to 2002.

He began his career in sales and marketing, first at Mars and then at the Telegraph.

Crozier joined Saatchi & Saatchi in 1988. where he was joint chief executive.

‘They are uniquely positioned to entertain consumers, pioneering in the exhibition space and pushing for the best experience possible.’

Vue operates in 10 countries across 212 sites since it was founded in 1999, making it one the the worlds largest cinema chains.

Tim Richards, Vue founder and chief executive, said: ‘Adam is one of the most highly respected professionals in the UK with extensive experience across multiple industries.

‘We look forward to benefiting from his invaluable perspective and insight to support our strategy and vision.’

Rival chain Odeon & UCI was sold for £921million to American group AMC Entertainment in 2016 and three years ago, Cineworld merged with Cinema City International to form Europe’s second biggest cinema group.

Crozier, who is to be replaced at ITV by easyJet boss Carolyn McCall, was appointed a non-executive director of Whitbread, the owner of Costa Coffee and Premier Inn, in January.

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Posted on; DailyMail>>

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