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LONDON - Smiths News PLC (LSE: SNWS), the UK's foremost news wholesaler and a premier provider of supply chain solutions, announced today a reconfiguration of its Board with the appointment of Manju Malhotra as an independent non-executive director. Effective from January 16, 2025, Malhotra will also serve on the company's Audit, Remuneration, and Nominations Committees.
Malhotra, a Chartered Accountant since 1998, brings a wealth of experience to Smiths News, having held a series of high-ranking positions at Harvey Nichols Group Ltd, including CFO, COO, and CEO between 2010 and 2023. She currently holds the position of non-executive director and Audit Committee chair at abrdn UK Smaller Companies Growth Trust PLC, as well as non-executive director and ESG Committee chair at Workspace Group (LON:WKP) PLC.
In addition to Malhotra's appointment, the company anticipates the retirement of Mark Whiteling, Senior Independent (LON:IOG) Director and Audit Committee chair, by the 2027 Annual General Meeting. Malhotra is expected to succeed Whiteling as chair of the Audit Committee in due course.
Furthermore, Denise Collis, who has served as an independent non-executive director and chair of the Remuneration Committee, is set to step down after her nine-year tenure at the upcoming Annual General Meeting on January 16, 2025. Michael Holt, currently an independent non-executive director and designated director for colleague engagement, will assume the role of Remuneration Committee chair. Holt's background includes a tenure as COO of FedEx Express, Europe, and various senior executive roles at FedEx Corporation (NYSE:FDX) since 2006.
David Blackwood, Chair of Smiths News, expressed his enthusiasm for Malhotra's appointment and Holt's expanded role, while also acknowledging Denise Collis's significant contributions to the company.
Smiths News confirms that no additional details regarding Malhotra's appointment are required for disclosure under the Financial Conduct Authority's UK Listing Rules.
This reshuffle aims to bolster the company's leadership with fresh perspectives and ensure a smooth transition in its governance structure. The information is based on a press release statement from Smiths News.
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