U.K. Retail Giant HMV Hires New CEO

LONDON – British entertainment retailer HMV Group, listed here on the stock market, is bringing in Trevor Moore as chief executive, replacing Simon Fox who will step down in September.

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Moore joins from high street retailer Jessops where he was chief executive and will be tasked with bringing HMV through harsh retailing conditions and building on Fox's work to rebuild the company.

Fox steps down from HMV after six years as chief executive officer.

He will remain in post until Moore arrives Sept. 3 "to ensure a smooth handover."

HMV chairman Philip Rowley thanked Fox for leading HMV "through a turbulent period for the entertainment retailing industry."

He described Fox as playing "an invaluable part in securing HMV’s future, not least by strengthening relations with suppliers and successfully refinancing HMV’s bank borrowings."

Moore said: "HMV is a great company and a fantastic brand and I look forward to building on its position as the UK’s leading entertainment retailer."

HMV Group's businesses include the famous Oxford Street store which hosted The Beatles in a live concert from its roof among its 200 plus shop fronts and a host of live venues including HMV Hammersmith Apollo and the HMV Forum.

Back in November this year, HMV dipped its toe into the increasingly competitive on-demandmovie sector here with titles such as Cars 2, Zookeeper, Rio, X-Men: First Class and Bad Teacher after partnering with FilmFlex, the video-on-demand rental service joint venture between Sony Pictures Television and The Walt Disney Company.

The outgoing Fox said: "I am proud to be leaving HMV with a profitable future secured. The appointment of Trevor Moore means that I will be leaving the company in safe hands."