WH Smith appoints new CFO

WH Smith has appointed Max Izzard as its latest CFO, following the news that Robert Moorhead is set to retire as CFO and COO after more than 20 years with the business. Izzard is currently SVP of group and corporate finance at Burberry. He will join the stationery retailer on 1 September 2024, whilst Moorhead will step down on 30 November 2024. According to WH Smith, Izzard is a “highly experienced” finance director, with “deep expertise” in multi-site international consumer businesses. He has also held a variety of senior roles there over the last six years, helping to support the strategic transformation and development of Burberry, overseeing the group finance functions, tax and treasury. Prior to Burberry, he held several senior commercial and group finance roles at IHG. Moorhead joined WH Smith in 2004 as finance director - Retail. He was appointed CFO in 2008 and CFO/COO in 2013. Annette Court, chair, said: "I want to pay tribute to Robert's outstanding achievements during his 20 years at WH Smith. He has played an integral role in the transformation of the Company to a highly successful global travel retailer, trading in 32 countries around the world. "I am pleased to welcome a highly capable successor in Max who brings a range of financial and commercial experience in multi-site international businesses." Carl Cowling, CEO, added: "Robert has been a fantastic support to me and the broader Executive teams. In particular, I want to thank him for his work during the exceptional challenges of the Covid-19 pandemic and the way he skillfully navigated the financial complexities of those times. It is testament to his efforts and talents that he will leave the Company in such a strong financial and strategic position. I thank him for that and wish him all the best for his retirement. "I look forward to working with Max who has a strong background and a wealth of expertise in a variety of international businesses, and I know he will contribute to the continued success of the company." Robert Moorhead, CFO/COO said: "It has been both a pleasure and an honour to have worked at WH Smith over the last 20 years. I would like to take this opportunity to thank Annette and Carl and also my many colleagues, past and present, for their support and friendship. I am highly confident that the future for WH Smith is an exciting one and I hand over to Max knowing that the company is well set for many years of continued success." Max Izzard, incoming CFO, concluded: "I am delighted to be joining as CFO of WH Smith. I have admired the transformation of the business and I am excited to be joining one of the world's leading travel retailers. I look forward to working closely with Carl and the leadership team to help deliver continuing success for our shareholders and other stakeholders."