SMITHS Group is set for a change up at the top level after chief Paul Keel announced his departure with immediate effect.

In a statement on the London Stock Exchange, the engineering firm said Keel planned to move to the US, to take on a new role heading up a public company.

Roland Carter, who has led subsidiary Smiths Detection since 2018, will replace him in the top job.

The announcement came as Smiths Group hiked its dividend and kicked off a £100m share buyback programme.

Shareholder dividends rose five per cent to 13.6p. Smiths Group said it expects £50m of the new buyback scheme to be completed by the end of September.

Shares closed up 2.18 per cent.

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