UK's Smiths News says CFO Baker to step down

(Reuters) -Newspapers and magazines distributor Smiths News said on Tuesday its CFO Paul Baker intends to leave the firm after more than three-and-a-half years in the role.

During Baker's tenure, shares of the firm have surged more than 47% up to Monday's close. Smiths said a final departure date for Baker will be confirmed as the company looks for his replacement.

In January, Smiths had said trading for 2025 remains in line with market expectations. It is now expected to give an update for the first half of 2025 later this month.

(Reporting by Aby Jose Koilparambil and Chandini Monnappa in Bengaluru; Editing by Mrigank Dhaniwala and Rashmi Aich)