ABC Money
Home

Simon Fox appointed CEO of HMV


Published :
Tue, 18 Jul 2006 11:00
By : James Rowe
Print this Story


AddThis Social Bookmark Button

LONDON - Music retailer HMV announced today that Simon Fox has been appointed as its new chief executive. Fox will succeed Alan Giles, who steps down on September 28.

Simon Fox quit as the chief operating officer of Kesa Electricals last week. HMV said in a statement that Fox was "chief operating officer, with responsibility for Comet in the UK, Kesa's subsidiaries in Continental Europe and e-commerce developments." The appointment comes even as HMV struggles to gain a foothold in the market being dominated by the supermarkets and the Internet. On July 6, it reported a 21 percent drop in annual profits.

Like-for-like sales for the nine weeks to July 1 fell 10 percent. HMV also owns Waterstone's book stores and is hoping to recoup its losses through a strong online presence as well as considerable price cuts. “The board of HMV is delighted to announce someone of Simon's caliber as chief executive. He has a strong strategic mind combined with a first rate track record in all aspects of retailing," said HMV's non-Executive chairman Carl Symon. "The board is highly confident that [Mr Fox] will successfully lead the transformation of HMV into a truly world-class multi-channel retailer."

Mr Fox said he was a "huge admirer"" of the HMV and Waterstone's brands. "We all know that these are highly competitive markets, but I firmly believe that the stellar attributes which are in the DNA of the brands and operating culture will enable the group's businesses to successfully differentiate themselves and to compete effectively," he added.


Share on


 You Might Like
Battle for Ottakar's intensifies
iTunes garner major share of UK online music
+
Permira abandons HMV bid
Sony PSP arrives in UK stores at midnight

Comment on this Article
Comment:
Title:
Name:
Please Enter
 
Here
  

 Search News

 Look For
Business
Credit cards
Finance
Loans
Money
Mortgages

 
 Stock Quotes *
SYMBOL
LAST
CHANGE
DOW JONES
10340.69
-107.24 ( -1.03 %)
NASDAQ
2792.28
22.57 ( 0.81 %)
FTSE 100
5741.15
38.78 ( 0.68 %)

SYMBOL ( 2012-01-19 )
LAST
CHANGE
STANDARD CHARTERED ( 11:35am )
1559.00
70.00 ( 4.76 %)
WOLSELEY PLC ( 11:35am )
2250.00
70.00 ( 3.20 %)
CARNIVAL ( 11:35am )
2017.00
46.00 ( 2.42 %)
LAND SECURITIES GROUP ( 11:35am )
679.50
36.50 ( 5.63 %)
WHITBREAD ( 11:35am )
1662.99
33.99 ( 2.09 %)

SYMBOL ( 2012-01-19 )
LAST
CHANGE
3M COMPANY ( 12:34pm )
85.78
0.71 ( 0.83 %)
BOEING CO ( 12:34pm )
75.70
0.64 ( 0.85 %)
JP MORGAN CHASE CO ( 12:34pm )
37.03
0.49 ( 1.33 %)
WAL MART STORES ( 12:34pm )
60.44
0.43 ( 0.72 %)
IBM ( 12:34pm )
181.50
0.43 ( 0.24 %)

SYMBOL ( 2012-01-19 )
LAST
CHANGE
F5 NETWORKS INC ( 12:11pm )
122.38
13.92 ( 11.80 %)
ICO GLOBAL COMM CL A ( 8:01pm )
99999999.99
9.37 ( 366.02 %)
PRICELINECOM INC ( 12:23pm )
525.40
6.57 ( 1.26 %)
AMAZONCOM INC ( 12:04pm )
195.65
6.21 ( 3.25 %)
MILLICOM INTERNATIONAL CELLULAR SA ( 4:00pm )
110.18
4.82 ( 4.43 %)

Gainers & Losers
Dow Jones
Euro Stoxx 50
FTSE 100
FTSE 250
FTSE AIM
FTSE ALL
Nasdaq

 Portfolio Manager

You must log in to access this area of the site. If you are not a registered user click here to sign up for instant access!


 Finance Explained

Money making ideas

Save money

Money management
Savings accounts
Investing money
Share dealing
Stock broker
Forex currency trading
Pension plans
Functions of Money

(c) 2007 ABCmoney.co.uk, All Rights Reserved
*ABCMoney.co.uk does not guarantee the accuracy of any share prices or stock quotations displayed. These are not real time quotes; all are delayed by at least twenty minutes and are for information purposes only.