The news about Carl Cowling resigning as CEO of WHSmith is quite shocking
, especially after Deloitte's review revealed so many systemic issues within the company. It seems like there was this "target-driven performance culture" that prioritized profits over financial accuracy, and it's no wonder their accounting treatment for supplier income wasn't consistent with their overall policy
.
I think Andrew Harrison taking over as interim CEO is a good move
, but it's going to be tough for him to regain market confidence. The company needs to address these underlying issues and implement a comprehensive remediation plan for North America ASAP
. It's also crucial that they reinforce financial discipline and integrity moving forward, which Annette Court seems committed to doing
.
I'm curious to see how this new era unfolds for WHSmith
. Will they be able to restore trust with their investors and stakeholders? Can they navigate the challenges of being a global travel retailer while addressing these systemic issues? It's definitely going to be an interesting ride
.
This is getting serious for WHSmith. I mean, who wants to shop at a store that can't even get its accounts right? 
. And let's be real, £5-£15 million in profit is pretty bleak 
. Can't wait to see what happens next