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4 March 2025
Smiths News PLC
("Smiths News" or the "Company" or the "Group")
Directorate Change - Chief Financial Officer Resignation
Smiths News, (LSE: SNWS), the UK's largest news wholesaler and a leading provider of early morning end-to-end supply chain solutions, today announces that Paul Baker, Chief Financial Officer ("CFO"), has informed the Board of his intention to step down as a director and CFO, to join a large private business, operating in a different sector.
Paul will remain with the Company through his notice period whilst a replacement is found, to ensure a seamless and effective transition of responsibilities, at which point a final departure date will be confirmed. The search for Paul's successor will now commence and a further update will be issued in due course.
In addition, the Group expects to provide, in March 2025, a pre-close trading update for the half year ending 1 March 2025.
Jonathan Bunting, Chief Executive Officer of Smiths News, commented:
"I would like to thank Paul for his significant contribution during his time with the business. He is leaving the business in a strong financial and operational position.
"Paul has been a valued colleague who I have very much enjoyed working with, and I wish him every success in his next role and for the future."
For further information, please contact:
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Smiths News PLC Jonathan Bunting, Chief Executive Officer Paul Baker, Chief Financial Officer
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via Vigo Consulting |
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Vigo Consulting Jeremy Garcia / Fiona Hetherington / Verity Snow
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Tel: +44 (0) 20 7390 0230 |
About Smiths News
For over 200 years, Smiths News has been delivering newspapers to retailers across the UK. It distributes newspapers and magazines on behalf of the major national and regional publishers, delivering to approximately 22,500 customers across England and Wales on a daily basis. The speed of turnaround and the density of Smiths News' coverage is critical to one of the world's fastest physical supply chains.
For more information, please visit: www.smithsnews.co.uk
Person responsible for arranging release of this announcement:
Stuart Marriner, General Counsel & Company Secretary
Smiths News plc, Rowan House, Cherry Orchard North, Kembrey Park, Swindon SN2 8UH
Email: [email protected]
On 4 March 2025, Smiths News PLC announced that Paul Baker will step down as Chief Financial Officer and director. Mr. Baker will remain with the company during his notice period while a successor is sought. Additionally, Smiths News expects to provide a pre-close trading update in March 2025 for the half year ending 1 March 2025.
| Date | 4 Mar 2025 |
| Time | 07:00:13 |
| Category | Board changes |
| ID | 1748Z |