Waterstones Appoints Next Chairman Amid London Stock Market Listing Preparations
The bookseller has named Michael Roney as non-executive chairman as speculation mounts over a potential listing.
Waterstones has appointed Michael Roney, the current chairman of Next, as its new non-executive chairman, signaling a significant step towards a potential listing on the London stock market.
Roney brings extensive experience to the role, having chaired Next since 2017 and previously served as CEO of Bunzl from 2005 to 2016. The move comes as Elliott Management, the activist fund that acquired Waterstones in 2018, is reportedly exploring options for spinning off the bookstore and its U.S. counterpart, Barnes & Noble, through a public offering in London.
Waterstones operates 320 retail locations across the United Kingdom, including well-known chains like Blackwell's and Foyles. The appointment of a seasoned City figure like Roney suggests a strategic push to enhance the company's corporate governance and market readiness in anticipation of public market scrutiny.
This development follows another British firm, Doncasters, which successfully initiated trading on the New York Stock Exchange recently, with its shares experiencing a notable 39 percent increase on their first day.