UK: HELLER ON MANAGEMENT - NEWS THAT PASSED SMITH'S BY.

UK: HELLER ON MANAGEMENT - NEWS THAT PASSED SMITH'S BY. - Residual brand strength and a new management may initially revive W H Smith's fortunes, says Robert Heller, but organic growth must be forcefully stimulated to prevent a return to Smith-style smug

Residual brand strength and a new management may initially revive W H Smith's fortunes, says Robert Heller, but organic growth must be forcefully stimulated to prevent a return to Smith-style smugness

The ultimate test of top managers lies in their legacy. By that demanding criterion, the previous guardians of W H Smith's fate have failed. Last year's £195 million loss, the first in 204 years, was the inevitable consequence of a chain of squandered opportunities.

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