Smiths Group CFO O'Shea steps down

Chris O'Shea is stepping down as chief financial officer of engineer Smiths Group with immediate effect and the search for his successor has begun.

Smiths said non-executive director and chair of the Audit Committee, Bill Seeger, will assume the role of interim CFO. O'Shea will continue to be available for a period of up to six months to ensure a smooth handover, while non-executive director Mark Seligman will become chair of the Audit Committee.

Chief executive officer Andy Reynolds said: "I want to express my thanks to Chris for his support and contribution to the strengthening of the Smiths platform for future growth. I wish him every success in the future."

Meanwhile, the company also took the opportunity to give a quick update, saying current trading and the outlook remain in line with previous guidance.

At 1110 BST, Smiths shares were down 1.8% to 1,600p.