Crisis-hit WH Smith in search for new chairman
The travel group remains without a permanent chief executive, after Carl Cowling stepped down following the company's accounting crisis last year
London-listed travel retail group WH Smith is using headhunters to identify a new chairman, as the company battles to restore the faith of their investors.
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The search for two new non-executive directors hopes to ultimately find a replacement for Annette Court, who has chaired the company for three years, according to reports.
The change is planned for next 18 months, with the board understood to be more focused on an effective succession, rather than a fast replacement.
The news follows crisis at WH Smith, after accounting errors in the second half of 2025 sent shares spiralling.
Following the mistake, the company said it wants to appoint a new board member with experience in the North American travel retail market.
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It is claimed that Russell Reynolds Associates is advising the company.
Ms Court, who is also on the board of the accounting software group Sage, is not expected to step down until 2027.
She has been deeply involved in addressing the troubles that have faced the company in recent months, according to a source speaking to Sky News.
The travel group remains without a permanent chief executive, after Carl Cowling stepped down following the scale of the accounting crisis.
He has been temporarily replaced by Andrew Harrison, who previously ran its UK travel division.
WH Smith, whose stock has dropped 45% in the past year, is to face shareholders questions about the incident at their annual meeting in February.
The company remains under investigation by the Financial Conduct Authority.