The Bookseller.com

2nd December 2008

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WHS directors to share £20m bonus

12.10.07

Top executives at W H Smith are likely to collect a bonus of almost £20m, after profits at the retail chain soared 22% to £53m last year, reports the Telegraph.

The recovery was driven by a strong performance from the company's travel division, which operates stores in railway stations, airports and motorway service stations. But shares in WHS closed down 27p at 393p after a downbeat trading update from Kate Swann, the retailer's chief executive. Shares have risen sharply in recent weeks on speculation that the retailer would launch a share buyback.

Swann is in line to collect £3.5m, with a further 40 senior managers expected to share up to £16.5m from a long-term incentive scheme put in place in 2004.

Telegraph

Retail W H Smith kate swann