WH Smith shares surged 10.2% after the travel retailer named Leo Quinn as its new Executive Chairman, effective April 7, 2026. Quinn, former CEO of Balfour Beatty, will take over from Annette Court, who steps down following the February AGM. The appointment requires shareholder approval.

Quinn's compensation includes a £360,000 base salary and a £12.25 million equity award, with £2 million of personal share purchases. His mandate is to steer WH Smith back to stability and long-term growth, leveraging his experience in business transformations that have delivered over £5 billion in shareholder value.

The market's reaction signals investor confidence in Quinn's ability to revitalize the global travel retailer. His track record at Balfour Beatty suggests a focus on operational efficiency and cash flow generation. The board's confidence underscores a strategic pivot towards proven leadership to navigate a challenging retail environment.