WH Smith appoints ex-Balfour Beatty chief as new chair
Travel retailer WH Smith has named former Balfour Beatty chief Leo Quinn as its new executive chair, replacing Annette Court, Reuters reports. The announcement sent shares up more than 11% after a 42% drop over the past year.
Quinn brings a track record of transforming large international companies and seven years of U.S. experience, key for WH Smith’s focus on its North American business. The retailer has faced accounting issues in North America, prompting delayed results, an audit probe, and the exit of its previous CEO, News.Az reports, citing Reuters.
Quinn is set to receive a potential £24.5 million ($32.8 million) share award if he doubles the company’s value over five years, along with a £360,000 base salary. Court will step down after the annual general meeting on February 2, with Simon Emeny acting as interim chair until Quinn joins in April.
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