Greggs’ Board Appointment Delayed Amidst WHSmith Review

Greggs (LON: GRG) faces a delay in the appointment of Robert Moorhead to the Board, with the move deferred pending the completion of a review of WHSmith plc by Deloitte, announced on August 21, 2025.

In the interim period, Greggs said Kate Ferry will remain as a Non-Executive Director and continue to chair the Audit Committee, providing continuity during this period of transition and scrutiny.

On Thursday of last week, WHSmith shares plunged 42% after the company announced an accounting error had led to an overstatement of its North America profits. The company revealed it has asked accountancy firm Deloitte to lead a review into the error.

In July, Greggs reported its interim results. Pre-tax profit declined to £63.5 million from £74.1 million a year earlier, despite total sales rising 7% to £1.03 billion. 

Operating profit declined 7.1% to £70.4 million, with the company attributing the decrease to weaker footfall, adverse weather conditions, and the timing of cost pressures.

“After a challenging start to 2025 we remain clear on the strategic opportunities that lie ahead,” said Greggs CEO Roisin Currie. “Through our disciplined estate expansion and focus on innovation, Greggs is evolving its offer
further and making the brand more convenient for a wider range of customers.”

Currie added that the outlook for cost inflation is unchanged and the company is “making great progress in building the supply chain infrastructure that will support the next phase of growth.”

Greggs' shares are down 42.8% since the beginning of 2025. The stock has declined by over 50% in the past twelve months. On Thursday, the stock is up around 0.3%.