Smiths News Strengthens Board with Manju Malhotra's Addition
Smiths News PLC Announces Board Changes
Smiths News PLC (LSE: SNWS), a leading news wholesaler in the UK, has recently made headlines with the appointment of Manju Malhotra as an independent non-executive director. This important change is set to take effect soon, enhancing the governance structure of the company and bringing in a wealth of experience to the Board.
Manju Malhotra's Impressive Background
As a Chartered Accountant since 1998, Malhotra has a distinguished career trajectory that spans significant roles in major companies. Her tenure at Harvey Nichols Group Ltd saw her serve in various key positions, such as CFO, COO, and CEO, from 2010 to 2023. Her past experiences equip her well to contribute effectively to the Board.
Current Roles and Responsibilities
In addition to her new role at Smiths News, Malhotra currently plays a vital part as a non-executive director and Audit Committee chair at abrdn UK Smaller Companies Growth Trust PLC. She also serves as a non-executive director and heads the ESG Committee at Workspace Group (LON: WKP) PLC, showcasing her expertise in both financial and environmental governance.
Transitioning Board Leadership
The company also anticipates the retirement of Mark Whiteling, the Senior Independent Director, by the next Annual General Meeting. Malhotra is expected to succeed him as the chair of the Audit Committee, marking a significant transition for Smiths News. This change is seen as a critical step towards enriching the leadership dynamics.
Denise Collis and Michael Holt Updates
Alongside Malhotra's appointment, Denise Collis, who has played an influential role as an independent non-executive director and chair of the Remuneration Committee, will step down after nine years. Her departure will lead to Michael Holt, currently an independent non-executive director, taking over as chair of the Remuneration Committee. Holt brings extensive knowledge from his previous high-level roles, including COO of FedEx Express in Europe.
Looking Ahead
David Blackwood, Chair of Smiths News, expressed enthusiasm regarding these appointments. He believes that Malhotra's addition and Holt's elevated responsibilities will bring fresh insights and perspectives to the company's future growth. Blackwood also commended Collis's significant contributions throughout her tenure.
Commitment to Governance
Smiths News reassured stakeholders that they will ensure compliance with the Financial Conduct Authority's UK Listing Rules. These changes reflect the company's commitment to enhancing governance and leadership as they move forward.
Frequently Asked Questions
Who is the new board member of Smiths News?
Manju Malhotra has been appointed as an independent non-executive director.
When will Manju Malhotra's role at Smiths News begin?
Her appointment is effective from January 16, 2025.
What roles has Malhotra held prior to joining Smiths News?
Malhotra has served as CFO, COO, and CEO at Harvey Nichols Group Ltd.
Who is expected to succeed Mark Whiteling?
Manju Malhotra is anticipated to succeed Mark Whiteling as chair of the Audit Committee.
What is the role of Michael Holt in the recent board changes?
Michael Holt will take over as chair of the Remuneration Committee after Denise Collis steps down.
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