Future Board Changes

RNS Number : 8004H

Smiths News PLC

01 March 2010

 



Smiths News PLC

Future Board Changes

Smiths News PLC ("Smiths News" or the "Company"), the UK's leading wholesaler of newspapers and magazines, today announces the following Board changes.

Alan Humphrey, Group Finance Director of Smiths News, has decided to retire after 28 years with Smiths News and WH Smith.  Alan joined Smiths News in 2002 and has made an outstanding contribution during a period of unprecedented change, including the Company's successful demerger from WH Smith in September 2006, substantial market growth in the Company's news distribution business and the recent acquisition of Bertram Books.  

The Company has already begun the process for selecting Alan's replacement.  Alan will remain with the Company until an appointment has been made and a suitable transition period has been completed.

Jon Bunting, currently Commercial Director of Smiths News, has been promoted to the position of Chief Commercial Officer and appointed to the Board as an executive director effective from 1st April 2010.  Jon has been with Smiths News since 1994.  In addition to retaining his commercial responsibility for newspapers and magazines, Jon will lead the Company's drive to strengthen its current market position and to continue to diversify into new market segments that have the potential to deliver demonstrable value to shareholders.

Mark Cashmore, Group Chief Executive of Smiths News PLC commented:

"The Board would like to thank Alan for his tireless dedication and commitment to our business over the last eight years.  Alan has led the finance function superbly and his sound counsel and guidance during an unprecedented period of revenue and profit growth for the Company has been invaluable.  The Board and all at Smiths News wish Alan a very happy retirement.

"I am delighted to be able to announce the promotion of Jon Bunting to Chief Commercial Officer and welcome him to the Board.  Jon has been instrumental in maintaining our high level of commercial success and we look forward to him developing new business opportunities whilst maintaining our market leading position."

Enquiries:

Smiths News PLC	Tel: [phone]
Mark Cashmore, Chief Executive Alan Humphrey, Finance Director
Buchanan Communications	Tel: [phone]
Mark Edwards / Jeremy Garcia / Chris McMahon

About Smiths News PLC:

Smiths News PLC comprises Smiths News, the UK's leading wholesaler of newspapers and magazines and Bertrams, a leading UK book wholesaler. The Company was formed on 1 September 2006 following the demerger of WH Smith PLC.

Smiths News distributes newspapers and magazines on behalf of all the major national publishers as well as a large number of regional publishers. The business serves approximately 30,000 customers across England and Wales, supplying large general retailers as well as smaller independent newsagents. Smiths News has an approximate 55% share of the newspaper and magazine wholesaling market in the UK. In addition to its distribution activities, Smiths News collects and processes returns, supplies sales information to publishers and provides a range of services for its retail customers.

Bertrams, which was acquired on 20 March 2009, supplies books to a mix of independent booksellers, on-line and multiple retailers, and libraries. Bertrams has an approximate 45% share of the wholesale book market.

The Company operates from 64 distribution centres across England and Wales, and employs 5,800 staff.

 

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