- A surprise change as Keel departs
- £100mn in new share buybacks
Shares in Smiths Group (SMIN) have flatlined over the past 12 months, but the market reacted positively after the engineering group announced £100mn in new share buybacks, together with organic revenue growth of 3.9 per cent at the half-year mark. The group also announced that Roland Carter is taking over as chief executive following Paul Keel's surprise decision to step down from the top job. Carter, a long-termer at the group, formerly headed up the Smiths Detection unit.