After the death of W. H. Smith the younger in 1891, his widow was created Viscountess Hambleden in her own right; their son inherited the business from his father and the viscountcy from his mother. After the death of the second Viscount in 1928, the business was reconstituted as a limited company, in which his son, the third Viscount, owned all the ordinary shares. On the death of the third Viscount in 1948, the death duties were so large that a public holding company had to be formed and shares sold to WHSmith staff and the public. A younger brother of the third Viscount remained chairman until 1972, but the Smith family's control slipped away, and the last family member left the board in 1996.