Former WH Smith exec delays Greggs role amid accounting error
According to Greggs, he has requested his appointment as a non-executive director be delayed until the investigation is completed
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The former finance chief of WH Smith has delayed joining the Greggs board following news of an accounting error and investigation into an overstatement of WH Smith’s finances.
According to Greggs, he has requested his appointment as a non-executive director be delayed until the investigation is completed.
Moorhead, who stepped down last year after more than 20 years at WH Smith, was due to join Greggs on 1 October as a non-executive director and also chair of the audit committee.
It comes as WH Smith last week said that ahead of the publication of its full-year results, a current financial review identified an overstatement of around £30m of expected headline profits in North America.
It added that the overstatement was largely due to the “accelerated recognition of supplier income” in the North America division.
In light of this, it now expects the region’s profits to be approximately £25m, down from previous market expectations of approximately £55m.
Big Four accountancy firm Deloitte is now leading a review into the accounting error.
In a statement on the London Stock Exchange, Greggs said: “Following the announcement by WH Smith on 21 August 2025 of a review by Deloitte, Robert Moorhead has requested to defer his appointment to the board of Greggs until after that review is completed.
“In the interim Kate Ferry will remain as a non-executive director and will continue to chair the audit committee.”
