WH Smith Plc (SMWH)’s 10 largest investors have asked Chief Executive Kate Swann to break up the company’s travel division from the main retailer, the Mail on Sunday reported, citing the unnamed investors.
The investors say the company’s share price doesn’t reflect the growth potential of the airport and railway station shops as its main retail business declines because of a weakened economy, the newspaper said. The travel division brings in about a third of sales and is responsible for half of its profit, the Mail said.
A call to WH Smith’s press office wasn’t immediately returned.
To contact the reporter on this story: Lindsay Fortado in London at email@example.com
To contact the editor responsible for this story: Anthony Aarons at firstname.lastname@example.org