Simon Fox, outgoing CEO of beleaguered retailer HMV, has been appointed new CEO of media company Trinity Mirror, it has been announced today.
Earlier this month, Fox announced that he is stepping down from his position within the entertainment retailer on September 3rd 2012 and is to be replaced by ex-Jessops boss Trevor Moore as HMV seeks to re-determine its place in a crowded market.
Speaking at the time of the announcement of his imminent departure, Fox said he was pleased to be leaving the retailer “with a profitable future secured”, despite recent full-year results revealing a pre-tax loss of £16.2 million.
Prior to his work with HMV during a turbulent trading period, Fox acted as Chief Operating Officer of Kesa Electricals plc and CEO of Kingfisher’s e-Electricals business and so is well-placed to oversee Trinity Mirror as it undergoes a period of change as a result of evolving customer needs.
David Grigson, Chairman of Trinity Mirror plc, commented: “Simon will provide the strategic leadership the company needs.
“His experience gives him a current and in-depth understanding of how consumers’ habits are changing and the technology that is driving these changes.
“He is a great team player and leader and his skills and experience perfectly complement those of the existing executive team.”
Fox will be officially appointed as an Executive Director of the company on September 10th 2012 and welcomed the move, saying: “I am delighted to be joining the Trinity Mirror team.
“I have been enormously impressed by the people I have met so far and look forward to starting shortly.
“Whilst the Group’s current financial performance is robust, we will need to continue to evolve the business to meet the changing needs of our customers.”