IN BRIEF: Former WH Smith CFO defers Greggs role amid investigation

Greggs PLC - Newcastle upon Tyne, England-based baked goods provider - Robert Moorhead, former chief financial officer & chief operating officer at WH Smith PLC, requests to defer his appointment to the board of Greggs until after a review of WH Smith by Deloitte. Kate Ferry will remain as a non-executive director in the meantime. Moorhead retired from the WH Smith board in November 2024 and is also currently a non-executive director at Watches of Switzerland Group PLC.

WH Smith on Thursday last week more than halved guidance for its North American division after an investigation found profit had been overstated during a financial review in preparation for its year-end results. The Swindon, England-based travel retail company now expects headline trading profit from the North America division to be around £25 million for the financial year ending August 31, down from previous expectations of around £55 million. WH Smith said the overstatement is largely due to the accelerated recognition of supplier income in the division. WH Smith has instructed Deloitte to undertake an ‘independent and comprehensive review’.

Current stock price: 1,592.00 pence, closed down 0.6% in London on Thursday

12-month change: down 50%

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