Andy Reynolds Smith is to step down as chief executive of the FTSE 100 industrial conglomerate Smiths Group “with immediate effect” after six years. Paul Keel, a former executive at 3M Company, is to replace him. SponsoredIn a brief stock exchange statement Sir George Buckley, chairman of Smiths Group, thanked Reynolds Smith “for his leadership and contribution”, although unusually there was no statement from the departing chief executive. In September Smiths, which makes components for the energy, aerospace, and construction industries, as well as security machines for airports, cut its dividend after reporting a 13 per cent drop in operating profitsSmiths has spent the past two years trying to spin out its £2 billion-rated Smiths Medical business. In March the company put out a

Source: The Times May 25, 2021 07:52 UTC