WH Smith PLC (LSE:SMWH) said it plans to appoint seasoned UK business leader Leo Quinn as Executive Chairman from 7 April 2026, subject to shareholder approval, as the retailer seeks to rebuild momentum and deliver sustainable long-term growth. Quinn will take over from Annette Court, who will step down following the company’s annual general meeting on 2 February 2026, with Senior Independent Director Simon Emeny acting as interim non-executive Chairman in the transition period.
Quinn brings more than two decades of experience running large, publicly listed companies, having previously led groups including Balfour Beatty, QinetiQ and De La Rue. His appointment is positioned as a deliberate move by the board to strengthen strategic execution and accelerate a broader turnaround, drawing on his track record in complex operational and financial restructurings.
To closely align his interests with those of shareholders, Quinn has committed to invest £2 million of his own capital in WH Smith shares. In addition, he will receive a performance-based share award valued at £12.25 million at grant, which could rise to twice that level if the company’s share price doubles over a five-year period. The incentive structure is designed to drive substantial shareholder value creation, potentially adding around £800 million to the company’s market capitalisation if targets are met.
Despite the leadership change, WH Smith continues to face near-term challenges. Recent performance has been weighed down by declining revenue, pressure on margins and a net loss, alongside a highly leveraged balance sheet. Negative technical indicators have also contributed to cautious market sentiment.
These headwinds are partly offset by resilient cash generation and an attractive dividend yield. Management guidance for FY26 points to a return to growth and improved profitability, although execution risks — particularly around regulation and North American operations — remain key considerations for investors.
More about WH Smith
WH Smith PLC is a global travel retailer with operations across airports, railway stations and other transport hubs worldwide. The group sells books, newspapers, magazines, convenience items and travel essentials, leveraging its well-known brand and long-standing retail heritage to expand its travel-focused business model.
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