Former ITV Chief Executive Adam Crozier exited the broadcaster at the end of June and has now taken the role of Non-Executive Group Chairman at Vue International. A leading exhibitor with 212 sites in 10 countries, Vue is believed to be considering a potential sale or IPO as the sector increasingly consolidates.
Founded by Tim Richards in 1999, Vue is active in the UK, Ireland, Germany, Denmark, the Netherlands, Italy, Poland, Latvia, Lithuania and Taiwan. In announcing Q2 results last July, Richards said, “Vue has ambitious growth plans, we remain focused on delivering our strategy and we are actively evaluating all of the options and opportunities available to the business.” The company is said to be valued at up to £1.6B ($2.13B).
Crozier led a turnaround at ITV where he served for seven years. A former boss of the Football Association and the Royal Mail, he was successful in restructuring ITV under a five-year plan that reduced reliance on advertising and included an aggressive acquisitions spree, growing production arm ITV Studios. When his departure from ITV was announced, he said, “I now feel that the time is right for me to move to the next stage of my career and to build a portfolio of roles.”
Richards commented, “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. Further enriching the strength and experience of the Board is part of our plan to grow our business internationally at a time when the industry is set for increased consolidation. We are proud to be able to work with such a credible and highly sought after Chairman.”
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. They are uniquely positioned to entertain consumers, pioneering in the exhibition space and pushing for the best experience possible. The future of the out of home entertainment industry has never been more relevant and I’m pleased to be joining the Vue team at such a moment.”