Directorate
Change: Rentokil Initial plc appoints Paul
Edgecliffe-Johnson as new Chief Financial
Officer. Current CFO Stuart Ingall-Tombs to
retire.
Rentokil Initial plc (FTSE: RTO, "the
Company") today announces that Paul Edgecliffe-Johnson will join
the Board as Chief Financial Officer on 1 January 2025, succeeding
Stuart Ingall-Tombs, who is retiring and will step down from the
Board on 31 December 2024 after 17 years with the Company, most
recently as Chief Financial Officer for 4 years.
Paul Edgecliffe-Johnson brings 25
years' experience in finance and international businesses, having
most recently been CFO and a member of the Board at Flutter
Entertainment PLC. Prior to that he was CFO, Group Head of
Strategy, and member of the Board and Executive Committee at
InterContinental Hotels Group PLC ("IHG"). Before joining IHG in
2004, Paul was an Associate Director, Corporate Finance at HSBC
Holdings PLC.
Paul will join the Company on 1
December 2024 as CFO Designate as part of the transition process.
Following 1 January 2025, Stuart will continue to be available to
support a smooth handover to Paul, including assisting with the
completion of the Company's financial statements for the year
ending 31 December 2024.
Richard Solomons, Chair, said:
"We are delighted to announce the
appointment of Paul as the Company's new Chief Financial Officer.
After a robust selection process, we are confident that he
possesses the right skills and experience needed to lead our
financial operations and deliver business success. He is a seasoned
financial executive with over a decade of company CFO experience,
including at IHG where we worked together. Paul has a proven track
record of driving profitable growth, optimising financial
performance and implementing strategic initiatives.
"On behalf of the Board, I would like
to thank Stuart for his contributions to Rentokil Initial over many
years of committed service and to wish him a happy and healthy
retirement."
Andy
Ransom, Chief Executive, said:
"I would like to thank Stuart for his
unwavering commitment to Rentokil Initial over the 17 years he has
been with the Company. I wish him all the best and hope he has a
wonderful time in his retirement.
"I am delighted that we have
appointed Paul as Chief Financial Officer. He has an exceptional
track record and reputation, and I am confident he will make a
significant impact in this critical role. I am really looking
forward to us working together, as his breadth of experience, along
with the insights and guidance he will bring, will be invaluable as
we continue to execute our Right Way Strategy in North America and
across the rest of the Group."
Paul
Edgecliffe-Johnson said:
"I am excited to join the talented
team at Rentokil Initial and to contribute to the growth journey of
this global leader. I look forward to leveraging my experience,
while maintaining a strong focus on operational excellence,
financial discipline and value creation."
Notes:
1. Stuart
Ingall-Tombs 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 in accordance with
the Company's Directors' Remuneration Policy and the relevant plan
rules. Further details will be disclosed on the Company's website
in due course in compliance with Section 430(2B) of the Companies
Act 2006, and details will also be disclosed in the Directors'
Remuneration Report within the Company's Annual Report and Accounts
for the year ending 31 December 2024.
2. There are
no further details to be disclosed relating to Paul
Edgecliffe-Johnson under Listing Rule 6.4.8.
Enquiries:
Investors / Analysts: Peter Russell,
Rentokil Initial plc: + 44(0)7795166506
Media: Malcolm Padley, Rentokil
Initial plc: +44(0)7788978199