Rentokil's new chief wields the axe
The new chief executive of Rentokil Initial has axed seven members of his senior management team as part of a strategic review.
James Wilde, who succeeded Sir Clive Thompson as chief executive last month, has made the changes as part of a decision to organise the business along divisional lines rather than geographic areas. Two regional managing directors are leaving along with five senior managers, all below board level. The central marketing function is also being disbanded.
The changes see the demotion of Ted Brown, the former chief operating officer who lost out to Mr Wilde for the top job. Mr Brown, who also used to be marketing director, stays with the company but becomes managing director in charge of pest control, washroom services and tropical plants. "He's understood for a long time that I'm going to be chief executive and he's not," Mr Wilde said. "I think he's rising to the challenge and enjoying himself."
Mr Wilde said the changes would make the group more efficient and responsive. He also said there had been a smooth handover of responsibilities from Sir Clive, who led the group for 20 years.
Unlike Sir Clive, who became known as "Mr 20 per cent" for his aim of increasing earnings by that figure every year, Mr Wilde declined to set any targets. Asked if he might be called "Mr Substantially Outperform", he said: "I'm just going to be James Wilde."
The comments came as Rentokil reported pre-tax profits up 4 per cent to £390m for the year to December. Organic sales grew 5 per cent. The group bought back £229m of its shares in the year and pledged to continue the programme. The shares closed 3.5p higher at 176p.
- 1 The difference between a migrant and refugee, in one sentence
- 2 Miley Cyrus calls out hypocrisy of women’s nipples being taboo
- 3 Celebrity Big Brother 2015: Tila Tequila kicked off show after 'describing Hitler as a good man'
- 4 iPhone 5c to be discontinued, no iPhone 6c to replace it
- 5 Blood Moon and Supermoon: September to bring brightest – and dimmest – full Moon of the year on same night
The difference between a migrant and refugee, in one sentence
Spain accused of 'provocation' after letting Russian submarine refuel off Gibraltar
Allonautilus scrobiculatus: World's 'rarest' creature spotted for only the third time ever
Miley Cyrus calls out hypocrisy of women’s nipples being taboo
Celebrity Big Brother 2015: Tila Tequila kicked off show after 'describing Hitler as a good man'
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
Labour leadership: Jeremy Corbyn accused of 'deluding' young supporters with 'claptrap'
'Women only' train carriages: Jeremy Corbyn unveils radical move to tackle public harassment
Black holes are a passage to another universe, says Stephen Hawking
Iain Duncan Smith 'should resign over disability benefit death figures', says Jeremy Corbyn
Iain Duncan Smith calls for urgent ESA overhaul as part of drive to cut down welfare costs
iJobs Money & Business
£25000 - £30000 per annum: Recruitment Genius: From modest beginnings the comp...
£35000 - £40000 per annum: Recruitment Genius: From modest beginnings the comp...
£15000 - £65000 per annum: Recruitment Genius: This is an exciting opportunity...
£18000 - £20000 per annum: Recruitment Genius: This is a fantastic opportunity...