The chief financial officer of Smiths News, the UK’s largest news wholesaler, is to step down. Paul Baker is departing the Swindon-headquartered company to join a large unnamed private firm in another sector.
In an announcement to the stock market on Tuesday (March 4), Smiths News said Mr Baker would remain with the business through his notice period while a replacement is found.
Mr Baker joined Smiths News in 2021 from contract food service business Compass Group. He has also held roles at Iglo Group/Birds Eye and Cadbury Schweppes during his career.
Jonathan Bunting, chief executive of Smiths News, said: “I would like to thank Paul for his significant contribution during his time with the business. He is leaving the business in a strong financial and operational position.
“Paul has been a valued colleague who I have very much enjoyed working with, and I wish him every success in his next role and for the future.”
The news comes ahead of a pre-closing trading update for the half year ending March 1 later this month.
In January, Smiths News said its performance for the 2025 financial year was likely to be in line with expectations. The historic business is aiming to deliver adjusted pre-tax profit £33.3m for the year ending August 30, 2025.
Last year the company confirmed it had secured a new long-term contract with Daily Mirror and Daily Express publisher Reach.