WH Smith chief steps down after accounting error slashes profits
Almost £600m was wiped off company’s market value when blunder was discovered in AugustBusiness live – latest updatesWH Smith’s chief executive has stepped down with immediate effect, after a review...
By Joanna Partridge · The Guardian World
Almost £600m was wiped off company’s market value when blunder was discovered in August Business live – latest updates WH Smith’s chief executive has stepped down with immediate effect, after a review found accounting failures in its North American division, prompting the retailer to slash its profit outlook. Nearly £600m was wiped off the company’s market value when the blunder emerged in August. Shares took a 42% one-day plunge from which they have not yet recovered, leaving the travel shop chain reeling shortly after the sale of its high street business , which has been rebranded as TGJones by its new owners. Continue reading...