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The Independent UK

Business

Holly Williams

WH Smith boss steps down as retailer issues fresh profit warning

WH Smith United States Carl Cowling Deloitte North America

WH Smith has been dealing with the fallout of an accounting blunder (PA) - (PA Wire)

Carl Cowling has stepped down as chief executive of WH Smith following an investigation into an accounting error within its US division, as the retailer issued a fresh profit warning.

The departure comes after an independent review conducted by Deloitte uncovered "shortcomings" that led the group to overstate profits in its American business by as much as £50 million.

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