Smiths chief in line for top job at Royal Mail
Royal Mail has picked Smiths Group chairman Donald Brydon as its top choice to lead the company through its part-privatisation.
Brydon, who chaired market research group Taylor Nelson Sofres until it was taken over by advertising giant WPP last year, is being lined up to replace current chairman Allan Leighton when he steps down in March.
Royal Mail is understood to be waiting to get the green light from Business Secretary Lord Mandelson for Brydon's appointment.
Brydon, who heads the London Metal Exchange as well as the technology group, is believed to be in talks with several companies about different posts, and may not wish to take up the role.
If he does step into Leighton's shoes, however, he is expected to lead the postal group through the sale of a minority stake in the company.
Richard Hooper, the former deputy chairman of communications watchdog Ofcom, recommended the sale in a report last month to help the company survive in the era of mobile phones and email. But the decision to seek a private investor sparked fury from trade unions and Labour MPs.
Up to a one-third stake in the group could be up for grabs.
Private-equity group CVC Capital Partners and foreign rivals including Dutch group TNT have already expressed interest. Parcel courier DHL, which is part of Deutsche Post, has also been mooted as a suitor.
