Smiths News has announced that its chief financial officer (CFO), Paul Baker, is to step down from the role.

The newspaper wholesaler said that Baker is to join a “large private business”, operating in a different sector.

Baker will remain with Smiths News through his notice period while a replacement is found, to ensure a seamless transition of responsibilities, at which point the group will then announce a final departure date.

Smiths News said the search for a successor had now commenced and that a further update would be issued “in due course”.

CEO at Smiths News, Jonathan Bunting, commented: “I would like to thank Paul for his significant contribution during his time with the business. He is leaving the business in a strong financial and operational position.

“Paul has been a valued colleague who I have very much enjoyed working with, and I wish him every success in his next role and for the future.”

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