Compass Group PLC Compass Group PLC CEO Succession (3530R)
September 21 2017 - 2:00AM
UK Regulatory
TIDMCPG
RNS Number : 3530R
Compass Group PLC
21 September 2017
21 September 2017
LEI: 2138008M6MH9OZ6U2T68
Compass Group PLC CEO succession
Compass Group today announces that Richard Cousins has decided
to step down from his role as Group Chief Executive Officer on 31
March 2018 and to retire from the Group on 30 September 2018. He
will be succeeded by Dominic Blakemore, currently Chief Operating
Officer Europe. Dominic will become Deputy Chief Executive Officer
on 1 October 2017 and will work closely with Richard during the
next six months to ensure a smooth transition and will take over as
Group Chief Executive Officer on 1 April 2018.
Paul Walsh, Compass Group's Chairman, said:
"It has been a pleasure to work with Richard and on behalf of
the Board I want to thank him for his extraordinary contribution to
the Group. In the past 11 years Richard has transformed Compass
into an industry leading organisation that delivers excellent food
services to our clients, attracts and develops great people and
generates significant returns for our shareholders.
Dominic's appointment is the result of a rigorous succession
process. Dominic joined Compass Group in 2012 and has already
contributed significantly to the Group as CFO for 4 years and for
the past 2 years as Chief Operating Officer Europe. Dominic has the
leadership skills combined with the industry and operational
experience to build on the Group's strong track record, and as CEO
to lead Compass to continued future success."
Richard Cousins, Group Chief Executive Officer, said:
"It has been a privilege to work with the many talented people
that make up the Compass team. I am grateful to have enjoyed their
support in building a world class business that has enormous
potential to prosper further. I look forward to working closely
with Dominic in the next six months to ensure a smooth handover and
I am confident that he will lead the Group to even greater success
in the future."
Dominic Blakemore, Deputy Chief Executive Officer, said:
"I am honoured and delighted to be appointed as Compass' next
CEO. I am fortunate to be supported by a very strong senior
management team and together we will continue to build on the
success achieved under Richard's leadership."
This announcement contains inside information.
+44 (0) 1932
Enquiries Sandra Moura 573000
+44 (0) 207
Media Gordon Simpson, Finsbury 251 3801
Website www.compass-group.com
Note to Editors
BIOGRAPHIES
Richard Cousins
Richard Cousins (age 58) was appointed Group Chief Executive of
Compass Group PLC in 2006.
This appointment followed six years as CEO of BPB plc, the
building materials company which was acquired by the French group,
Saint Gobain in 2005. BPB was the world's leading producer of
plasterboard and plaster. It had revenues of GBP2.5bn and operated
in 40 plus countries.
Richard's first nine years with BPB included spells as Strategic
Planning Manager, Group Financial Controller, Managing Director of
the UK packaging businesses and President of BPB Canada. His
earlier career was spent in Operational Research and Strategic
Planning with Cadbury Schweppes and BTR.
He is a former non-executive director of P & O plc, HBOS
plc, Reckitt Benckiser Group plc and Tesco PLC.
Richard has a maths degree from Sheffield University and a
Masters degree in Operational Research from Lancaster
University.
Mr Cousins will be paid to 30 September 2018 in accordance with
his current terms. Long term incentive awards will be pro-rated and
will continue to be subject to post vesting holding
requirements.
Dominic Blakemore
Dominic Blakemore (age 48) was appointed Chief Operating Officer
Europe in 2015, having joined the Group and the Board in 2012 as
Chief Financial Officer, a role which encompassed Strategy,
Investor Relations, IT and being the Sector Head of Defence,
Offshore and Remote.
He was appointed a non-executive director of Shire plc in 2014,
where he is a member of the remuneration committee and chairman of
the Audit Committee.
Dominic was the Chief Financial Officer of Iglo Foods between
2010 and 2012, and held senior finance positions with Cadbury plc
between 2004 and 2010. He is a qualified accountant, having trained
at PricewaterhouseCoopers.
He is also a member of the Academic Council and chairman of the
Audit Committee of University College, London, from where he
graduated in 1991 with a B.A. (Hons) in French.
Salary
Mr Blakemore's salary will be GBP750,000 p.a. from 1 October
2017 and will be GBP900,000 p.a. from 1 April 2018 when he will
succeed Mr Cousins as Group Chief Executive Officer. Mr Cousins
will cease to be a director on 31 March 2018, and will be available
to support Mr Blakemore from 1 April 2018 until he retires from the
Group in September 2018.
About Compass Group
Compass Group PLC is one of the world's leading foodservice and
support services companies which generated annual revenues of GBP20
billion in the year to 30 September 2016. It operates in over 50
countries, employs over 500,000 people and serves over 5 billion
meals every year. The Company specialises in providing food and a
range of support services across the core sectors of Business &
Industry, Healthcare & Seniors, Education, Defence, Offshore
& Remote, Sports & Leisure and Vending with an established
brand portfolio.
This information is provided by RNS
The company news service from the London Stock Exchange
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