Smiths Group plc (SMIN.L)

UK engineer Smiths names Carter as CEO as half-year profit climbs

(Reuters) -Britain's Smiths Group picked Roland Carter, an insider at the engineering firm, to be its new CEO on Tuesday as it reported a rise half-year profit and announced 100 million pounds ($126 million) of new share buybacks. Carter, 57, most recently led Smiths Detection, which makes security screening systems, where he increased the after market revenue stream to greater than 50% of sales, Smiths said. Shares in FTSE 100 index member Smiths, whose baggage-screening kit and explosive detectors are a common sight at airports, climbed as much as 4% to a near four-month high of 1721.5 pence, briefly topping London's blue-chip index.