LONDON (ShareCast) - (Sharecast News) - Greggs said on Thursday that Robert Moorhead has asked to defer his appointment to the board after a review into WH Smith has been completed.
The bakery chain announced at the end of last month that it was appointing Moorhead as an independent non-executive director with effect from 1 October.

Moorhead was chief financial officer and chief operating officer of WH Smith before retiring from the board in November 2024.

Greggs said that Kate Ferry, who had been due to retire at the end of August, will stay on as a non-executive director and continue to chair the Audit Committee.

WH Smith shares tanked earlier this month as the retailer said it had instructed Deloitte to undertake an "independent and comprehensive" review, after it uncovered an accounting overstatement of around £30m for North America trading profit.

It said at the time that the overstatement was mainly due to "the accelerated recognition of supplier income" in the North America division.

Independent retail analyst Nick Bubb noted that "after the accounting scandal that blew up last week at WH Smith...fingers were pointed at the role of the current CFO, Max Izzard, but he has only been in place for less than year (he joined WH Smith from Burberry on Sept 1 and became CFO on Nov 1)".

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