REG - WH Smith PLC - Board changes

WH SmithAnnouncement

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RNS Number : 1473I  WH Smith PLC  19 November 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

 

WH Smith PLC

 

19 November 2025

 

Board Changes

 

Following the independent Deloitte Review announced today, Carl Cowling has
offered his resignation which the Board has accepted. Carl will step down as
Group CEO and as a Board Director with immediate effect. He will remain
employed by the Company until 28 February 2026 to ensure an orderly handover
of his duties. The Board will look to new leadership to oversee and implement
the remediation plan and lead the Company through the next phase of its
strategy as a pure-play global travel retailer.

 

The Board has begun a comprehensive formal search process for a new Group CEO.
Until a permanent appointment is made, Andrew Harrison, CEO of the Group's UK
division, will assume the role of Group CEO on an interim basis.

 

Carl Cowling has led the Company as Group CEO since November 2019 having
joined the Company in 2014.

 

Annette Court, Chair, commented:

 

"On behalf of the Company and the Board, I would like to thank Carl for his
significant contribution to WHSmith over the last 11 years. Upon being
appointed as Group CEO in November 2019, Carl successfully navigated the
Company through the global pandemic and, more recently, has strategically
repositioned the Group as a pure-play travel retailer. We wish Carl every
success in the future.

 

"I am pleased that Andrew has agreed to accept the position of Interim CEO.
Andrew will join the Board with immediate effect. With the support of an
external executive search firm, the Board is now committed to appointing the
strongest candidate to lead the next phase and guide the Group's long-term
growth strategy."

 

Carl Cowling added:

 

"Whilst the issues identified in the Deloitte review arose in our North
American division, I recognise the seriousness of this situation and as Group
CEO feel it is only right that I step down from my position. It has been a
privilege to lead WHSmith for the past six years as CEO. During this time, we
have guided the Company through the unprecedented challenges of the pandemic,
pioneered our highly successful one-stop-shop for travel essentials, and
completed the divestment of our High Street and online businesses. I would
like to thank the entire team for their support, and I wish them well."

 

Andrew Harrison commented:

 

"Our immediate priority is to maintain a relentless focus on operational
excellence and execute the remediation plan with discipline.

 

"We have a very resilient business and the fundamentals of the Group are
strong. Working alongside Max Izzard, Group CFO, I am confident that we can
move forward and position the Group for long-term growth and success."

 

 Enquiries:

 WH Smith PLC
 Nicola Hillman  Media Relations     +44 1793 563354
 Mark Boyle      Investor Relations  +44 7879 897687

 Brunswick
 Tim Danaher                         +44 20 7404 5959

 

There is no information required to be disclosed in accordance
with UK Listing Rule 6.4.8(R) in respect of Andrew Harrison's appointment.

The person responsible for making this announcement on behalf of the Group is
Ian Houghton (General Counsel and Company Secretary).

Supplementary Information: Remuneration

All remuneration arrangements are consistent with the terms of the Directors'
Remuneration Policy approved by shareholders at the AGM in January 2025.

In accordance with section 430(2B) of the Companies Act 2006, information in
respect of Carl Cowling's departure from the Board will be available on the
Company's website in due course.

Notes:

Andrew Harrison joined WHSmith as Managing Director for the UK Travel division
in May 2021. Prior to joining WHSmith, Andrew spent 15 years with Manchester
Airports Group where he held various roles including Commercial Director and
Managing Director of Manchester Airport, Managing Director of Stansted
Airport, Chief Operating Officer and Chief Strategy Officer.

Andrew also spent a decade at M&S. Andrew has a first-class honours degree
in Japanese Studies and is multilingual speaking fluent Japanese and French.

 

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