Smiths boss to step down

The boss of British industrial conglomerate Smiths today announced his intention to leave the business after more than a decade at the helm.

Keith Butler-Wheelhouse, who has shaped Smiths as a major force in detection hardware, medical devices and speciality engineering, will be replaced by Philip Bowman, the former chief executive of Allied Domecq and Scottish Power.

Mr Butler-Wheelhouse’s decision to step down in December came as the group said headline operating profits increased by £3m (€4.28m) to £348m (€497m) in the year to July 31.

Sales were £2.16bn (€3.08bn), a reduction of 1% on a year earlier.