Smiths Group CEO Philip Bowman to retire at end of 2015

19th Dec 2014 08:07

Philip Bowman, the long-running boss of Smiths Group, is to step down at the end of next year, the technology company revealed on Friday.Smiths said that Bowman has given the board "early notification of his intention to retire as group chief executive on 31 December 2015, by which time he will have been in the role for eight years".Bowman, an Australian who has led the company since 2007, was previously the boss of Scottish Power and Allied Domecq, and is currently on the board at Burberry, Better Capital PCC and The Miller Group (UK)."A search for his successor can now be put in hand. Philip will continue in his role as group chief executive until his replacement has been appointed and an orderly handover completed."The stock was trading 0.6% higher at 1,092p by 08:14.