Stationery and books retailer WHSmith has promoted its Chief Operating Officer of Travel Retail Simon Smith to Managing Director (MD) of the division, the company has confirmed.
He will assume the role in December this year after the retirement of current incumbent Simon Marinker, which was announced by the business today.
Smith has large shoes to fill as Marinker has been with WHSmith for 34 years and has provided “outstanding service” to the group, according to today’s statement.
The retailer also revealed that it expects 2010/11’s trading performance to be in line with market expectations, with its Travel Retail department said to be continuing to perform well since third quarter results were announced earlier this year.
Preliminary results for the year ending August 31st are due to be published on Thursday October 13th.
“The Travel Retail business continues its good performance and is making further progress in winning new business in the international channel,” said today’s pre-close trading update.
“In the High Street Retail business our focus on gross margin gains and tight cost control continues to deliver a solid performance. Both businesses remain highly cash generative.”
WHSmith recently came under attack from supermarket group Asda, which claimed the high street mainstay’s prices for stationery are “a rip-off”.
It comes at one of the most lucrative periods of the year for the business, with back-to-school merchandise highly sought after across the UK.