The board of British retailer WH Smith has confirmed the appointment of Leo Quinn, the former chief executive of infrastructure giant Balfour Beatty, as its new chairman. The move is pending approval from shareholders at the company's upcoming annual general meeting.
Leadership Transition and Appointment Details
Leo Quinn is set to join the Swindon-based group on April 7, 2026. He brings over two decades of experience leading UK public companies to the role. The appointment follows the planned departure of current chair Annette Court, who will step down as chair and non-executive director after the AGM on February 2.
Simon Emeny, a senior independent director, will serve as the interim non-executive chair during the brief period between Court's departure and Quinn's official start date. The company also announced it will withdraw the resolution to re-elect Annette Court as a director.
Remuneration and Share Award Structure
WH Smith has structured a significant incentive package to secure Quinn's leadership. Upon joining, he will receive a base salary of £360,000 and a pension allowance worth 3% of that salary. In a notable move, Quinn will personally purchase shares worth £2 million from his own funds.
Furthermore, he will be granted a substantial share award of 1,887,519 shares, equivalent to £12.25 million at the grant date. This award is designed to compensate for share awards forfeited from his previous employer. The shares will vest based on a five-year share price performance test. If WH Smith's share price doubles during that period, the award could be worth approximately £24.5 million.
Context and Strategic Vision
This leadership change occurs as WH Smith continues to manage the aftermath of a damaging accounting irregularity within its US operations, first disclosed in August 2025. The issue even caused a delay in the publication of the company's annual financial results last December.
In a statement, outgoing chair Annette Court praised Quinn's record, stating his experience in leading transformation at large international companies made him the ideal candidate to deliver stability and long-term growth. Leo Quinn responded, calling WH Smith "a great business with a remarkable heritage" and committing to build the right foundations for long-term value for all stakeholders.
The retailer, which sold its UK high street business last year to focus on travel locations in airports, train stations, and hospitals, is now looking to Quinn to steer its next phase of recovery and strategic development.
