Smiths Group chief likely to step down next year – report

(Reuters) – Smiths Group Plc’s (L:) Chief Executive Andy Reynolds Smith will likely step down next year after a demerger of its medical unit, the Sunday Times reported.

Reynolds Smith has been under pressure from investors since the British engineer’s planned merger with U.S.-based ICU Medical (O:) fell off in September as both the companies failed to agree on terms, the report said https://www.thetimes.co.uk/edition/business/andy-reynolds-smith-boss-of-smiths-group-set-to-leave-after-2bn-spin-off-2kcrdhc6d.

In March, Smiths Group had announced the listing of its healthcare business, which makes respiratory devices and catheters, as it focuses on industrial technology services.

Smiths Group did not immediately respond to a request for comment.

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