Latest news with #AndyRansom
Times
07-05-2025
- Business
- Times
Rentokil boss retires amid struggles in US pest market
Andy Ransom is to step down as chief executive of Rentokil as the pest control specialist overhauls its executive team to improve the prospects of its US business. Ransom is retiring after sitting on the board of Rentokil for 17 years and serving as its chief executive for 12 years. The executive has overseen a substantial reorganisation of the Crawley-based group during his tenure, but the company has been struggling in more recent years following the acquisition of Terminix, an American peer, for $6.7 billion. The Terminix takeover has soured as the board struggled to smoothly integrate the business and find growth in the highly competitive market for rooting out pests in America. Rentokil has faced strong competition from Rollins, an American rival which has
The Independent
07-05-2025
- Business
- The Independent
Rentokil boss to retire after 12 years at the helm
The boss of pest control firm Rentokil Initial has revealed plans to leave after nearly 12 years in the top job. Andy Ransom will retire as chief executive by the firm's annual general meeting next year. The group said it had kicked off a search for his successor, led by chairman Richard Solomons. Mr Ransom has been chief executive of the London-listed firm since October 2013, having first joined the board in May 2008 as executive director of corporate development. He said: 'I look forward to working with my successor in due course to ensure a successful transition. 'For now, I am focused on executing our growth plans in our North America business and expanding in our target markets around the world, so as to leave the company in the best possible shape for the future.' Mr Solomons paid tribute to his 'outstanding contribution' in the role. He added: 'The company has exceptional long term growth prospects but short term our priority is on turning around the underperforming North American business. 'Andy is very focused on this task and will ensure a smooth handover when a new chief executive is appointed.' The group's latest trading update showed the troubled North American business continued to lag behind the rest of the group after a 'slow first quarter with continued subdued lead flow'. The US business has suffered a turbulent time of late, with its former boss, Brad Paulsen, leaving in January after just over a year in the role.
Daily Mail
07-05-2025
- Business
- Daily Mail
Rentokil boss to retire as investor pressure grows over North America woes
The chief executive of Rentokil Initial will retire before the company's annual general meeting in 2026, the pest control giant said on Wednesday. Andy Ransom retires after a 12-year tenure in the top job, in which he has overseen a transformative $6.7billion acquisition and confronted challenges in the pest giant's largest market, North America. The process to find Ransom's successor has already begun under the leadership of the company's chair, Richard Solomons. Ransom served on the FTSE 100 group's board for 17 years. The group said Ransom will be treated as a 'good leaver by reason of his retirement for the purposes of annual bonus and awards under the Deferred Bonus Plan and Performance Share Plan'. Ransom said: 'It has been a great privilege to lead the growth of Rentokil Initial as Chief Executive over the last 12 years and to establish it as a global leader in Pest Control.' Rentokil shares fell 1.47 per cent or 3.30p to 356.20p on Wednesday, having fallen around 15 per cent in the last year. Ransom added that he is focused on executing growth plans in North America and expanding in target markets around the world, 'so as to leave the company in the best possible shape for the future'. He succeeded Alan Brown as CEO in 2013, after the latter stepped down following the failed turnaround of a loss-making acquisition, City Link. The acquisition of US rival Terminix was transformative, but integrating the new business has proved a struggle. Investor pressure on the firm has mounted amid weak demand in North America, which made up about 60 per cent of revenue last year. Solomons said: 'Andy has created a global leader in Pest Control and the Board thanks him for his outstanding contribution. 'Rentokil Initial is well placed within an industry that has attractive and sustainable growth drivers. 'The Company has exceptional long term growth prospects but short term our priority is on turning around the underperforming North American business. 'Andy is very focused on this task and will ensure a smooth handover when a new Chief Executive is appointed.'
Reuters
07-05-2025
- Business
- Reuters
UK pest control firm Rentokil's CEO to retire by 2026
May 7 (Reuters) - Britain's Rentokil Initial (RTO.L), opens new tab said on Wednesday that CEO Andy Ransom will retire by its 2026 annual general meeting, with a successor search already underway, led by Chair Richard Solomons. Ransom took over as CEO from Alan Brown in 2013, after the latter stepped down following the failed turnaround of a loss-making acquisition, City Link. Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here. Since then, Ransom has guided the British pest control firm through a rough couple of years marred by weak at its largest market, North America.
