Music retailer HMV has today named its new chief executive as former Kesa Electricals boss, Simon Fox.
HMV, which owns bookstore chain Waterstones, said that Mr Fox would assume his post on September 28th.
Forty-five year old Mr Fox, who had responsibility for UK electrical chain Comet in his previous role, will succeed current HMV chief executive Alan Giles.
Welcoming the appointment of Mr Giles, HMV non-executive chairman Carl Symon said his international experience and expertise in developing online brands made him stand out from other candidates.
Speaking on behalf of HMV, Mr Symon said: "The board is highly confident that he will successfully lead the transformation of HMV into a truly world class multi-channel retailer."
Commenting on his appointment, Mr Fox said that 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 through a variety of complementary retail channels," he said.