Stephen Clarke chief executive of WH Smith is to step down in October after six years at the helm. Carl Cowling who is the current managing director will take over from 1 November.
Clarke said, “It really has been a great privilege to lead WH Smith for the last six years and I am extremely proud of what we have achieved during my time as chief executive.”
He added, “I am fully committed to working with Carl in order to ensure a smooth transition.
“After I leave WH Smith, I have no immediate plans other than to take a break.”
Henry Staunton, chairman paid tribute to Clarke’s “outstanding contribution” to the company.
He said, “The board is particularly grateful to him for his dedication and leadership which has seen WH Smith go from strength to strength and deliver exceptional shareholder value over the last six years.
“He has built an excellent management team and has put in place a proven strategy which will continue to deliver for all our stakeholders.”