Overview
- Quinn is set to start on 7 April subject to shareholder approval, with senior independent director Simon Emeny serving as interim chair after Annette Court steps down at the 2 February AGM.
- His pay package includes a £360,000 salary, a performance-linked share award initially valued at £12.25 million that could reach about £24.5 million if the share price doubles over five years, and a £2 million personal share purchase.
- Shares rose about 11% in morning trading following the announcement, reflecting investor optimism about the turnaround plan.
- WH Smith remains in remediation following the Deloitte review that found shortcomings behind the US profit overstatement, and the company is under investigation by the Financial Conduct Authority.
- Former CEO Carl Cowling resigned in November; UK boss Andrew Harrison continues as interim chief executive and is expected to work closely with Quinn as the group focuses on its 1,300 travel-location stores after selling its high street chain.