WH Smith cuts store managers

NEWSAGENT WH Smith's boss Kate Swann has axed some regional store chiefs in an attempt to disentangle the unwieldy corporate structure put in by her predecessors.

Swann, who became chief executive in November, is pressing ahead with her efficiency drive even though Smith looks likely to be swallowed up by bidder Permira.

Her latest changes are to sack three of the four 'regional controllers' and to cut the network of area managers from 26 to 21.

The managers will now be focused on geographic regions. Some of the previous team had their responsibilities determined by store size.

Swann has already ousted the retail director and various other members of the top team.

WH Smith has allowed Permira access to the books after it made a tentative £940m bid at 375p per share.