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Rentokil chief Andy Ransom to retire
(Sharecast News) - Rentokil Initial announced on Wednesday that its chief executive officer Andy Ransom would retire by the time of its annual general meeting in 2026, bringing to a close a 17-year tenure on the board, including 12 years as CEO. The FTSE 100 pest control and hygiene specialist said the search for his successor was already underway, led by chair Richard Solomons.
It credited Ransom with transforming Rentokil Initial into a global leader in pest control, with the board saying the group was well positioned for long-term growth, supported by strong structural drivers in the industry.
Solomons noted that while long-term prospects remained compelling, its management was focussed in the near term on turning around the company's underperforming North American business.
Ransom said it had been a privilege to lead the group, adding that he would remain focused on delivering growth in North America and other core markets ahead of a smooth leadership transition.
Rentokil said he would be treated as a good leaver for the purposes of incentive schemes, in line with the company's remuneration policy.
At 1133 BST, shares in Rentokil Initial were down 1.55% at 355.91p.
Reporting by Josh White for Sharecast.com.
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