Spotlight on: Trevor Moore, HMV chief executive
Tuesday 04 September 2012
This bespectacled chap doesn't look very rock'*'roll. Is he really running HMV?
Yes, Mr Moore started this week at the nation's biggest (and last) high street music chain, replacing Simon Fox, who's gone to Trinity Mirror.
What's his background?
He used to run the camera shop Jessops as chief executive and previously worked at HSBC and Whitbread, the owner of Costa Coffee and Premier Inn. So he knows what consumers want.
What gets him fired up?
Flying. Mr Moore is 6ft 6in and he recalled in a recent interview: "The only job I ever wanted to do at school was to be a pilot but the height limit was 6ft 3in. My life was shattered."
So, did he have a rallying message for the troops on his first day?
Apparently not. So low-key was Mr Moore's arrival that yesterday afternoon the HMV corporate website still listed Mr Fox as chief executive.
What sort of legacy does Mr Moore inherit?
The Fantastic Mr Fox's last year in charge resulted in an £80m after-tax loss, and HMV's share price slumped more than 95 per cent as CD sales collapsed. However, he has predicted a £10m profit for this year.
Hasn't Jessops had a lot of problems?
Indeed, the camera firm suffered from the rise of digital, just like HMV, and the banks did a debt-for-equity swap. Mr Moore arrived in 2009 on a clear-up mission and can argue that he left it in better shape.
What's the future for HMV?
Mr Fox sold various bits including Waterstone's. Mr Moore faces a battle to increase revenues in the age of iTunes and internet piracy, and it is probably too much to expect fancy headphones to save the day.
So what can we expect?
On his watch, Jessop's boasted that it sent online sales soaring and drew "more, younger, older and female customers" with a "live store" format which "extended dwell time and increased visit frequency". It's not rock'n'roll, but the City might like it.
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