Board Change

RNS Number : 4361O

WH Smith PLC

11 October 2012

 



11 October 2012                                                                                                           

WH Smith PLC

Board Change

WHSmith announces that Kate Swann is, after nine years, to step down as Chief Executive of the Company on 30^th June 2013 and is also pleased to announce that Steve Clarke will be appointed as Chief Executive as successor to Kate Swann with effect from 1^st July 2013.

Steve joined WHSmith in August 2004 and was promoted to Commercial Director in 2006. In 2008 he became Managing Director of the High Street business and in June 2012 was appointed as a member of the Board.  His appointment is part of the Company's long term succession plan.

As at 1 July 2013 Robert Moorhead will also take on the role of Group Finance Director and Chief Operating Officer. Robert joined WHSmith in 2004 as Retail Finance Director. He joined the Board in 2008 when he was appointed as Group Finance Director.

Walker Boyd, Chairman, said:

"Kate has made an outstanding contribution to WHSmith.  The Board is particularly grateful to her for her vision, dedication and leadership which has seen WHSmith go from strength to strength and deliver exceptional shareholder value during her tenure as Chief Executive.  She has built an excellent management team and has put in place a strategy which will continue to deliver for all our stakeholders.  We wish her well for the future.

I am delighted that Steve will be Kate's successor.  Steve has been instrumental in the development and execution of the Company Strategy that has led to its outstanding performance. Steve is the unanimous choice of the Board as he has the qualities and experience to lead the Company and continue its record of delivering superior shareholder returns.  He will be ably supported by Robert in his new role and by all of the Company's Senior Executive Team."

Kate Swann, Chief Executive, said:

"It has been a great privilege to lead WHSmith for the last nine years.  I am extremely proud of what the team has achieved during my time as Chief Executive. WHSmith has a first class management team who are focused on running the business in the best interests of shareholders.  I am also delighted that the Board has appointed Steve as my successor as I know that WHSmith will continue to thrive under his leadership.

I am fully committed to working with Steve in order to ensure a smooth transition and to deliver the plan for 2013."

Steve Clarke, Managing Director WH Smith High Street, said:

“I am delighted to succeed Kate and excited by the challenges ahead. I am equally committed to continuing to deliver excellent shareholder returns and very much look forward to leading WHSmith to its next stage of growth and performance, supported by an excellent senior management team”.

ENDS

Enquiries:

WH Smith PLC

Mark Boyle                   Investor Relations                                                           020 7851 8820

Nicola Hillman               Media Relations                                                             020 7851 8850

Brunswick

Simon Sporborg                                                                                                 020 7404 5959

 

END

 

 

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