WHSmith appoints new executive chair

Leo Quinn will take on the role from April 7, subject to shareholder approval, as current chair and non-executive director Annette Court intends to step down on February 2, following an annual general meeting.

Court recently navigated the group through an accounting controversy, which delayed results and saw the resignation of group chief executive Carl Cowling.

She will step down from her roles in February and senior independent director Simon Emeny will be interim non-executive chair until the new appointment.

Quinn has over 20 years of experience in chief executive roles of public companies. His most recent role was as group chief executive of infrastructure company Balfour Beatty, as well as leadership roles at other global companies.

WHSmith said Quinn has led “significant business transformation” across many groups to drive “sustained cashflows and strong shareholder returns”.

Senior independent director Simon Emeny said: “On behalf of the board, I would like to thank Annette for her leadership of the company and, in particular, through the recent challenges. Annette has played a vital role in navigating the business through this period and ensured that the platform is in place for Leo to lead the next phase. 

“I would also like to welcome Leo to WHSmith and I look forward to supporting him in the years to come.”

Court added: “The board strongly believes that Leo’s record of leadership and significant experience of successfully delivering transformation for large international companies make him the right candidate to deliver the group’s return to stability and long-term growth strategy.

“I wish Leo, the board and the entire team of dedicated colleagues at WHSmith the very best for the future.”

Quinn will receive a base salary of £360,000, a pension allowance of 3% of his base salary, and he will purchase shares in the company equivalent to £2m from his own funds.