TIDMMTO
RNS Number : 0759M
MITIE Group PLC
10 October 2016
10 October 2016
Mitie Group plc
Board changes
Mitie Group plc ("Mitie"), the strategic outsourcing company,
today provides an update on its CEO succession plans.
Late last year, at the request of Ruby McGregor-Smith, the Board
commenced a detailed review of its succession plan for the role of
chief executive. External advisors were appointed to support this
process, assessing a range of both internal and external
candidates.
The Board is now in a position to confirm that Ruby will step
down as a director and as chief executive of Mitie and from the
board on 12 December 2016. It is also pleased to announce that Phil
Bentley has been appointed to succeed her in the role. Phil will
join as a director of Mitie on 1 November 2016, and assume the
position of Chief Executive on 12 December 2016. Ruby will work
closely with Phil to ensure an effective transition including with
clients, employees, investors and other stakeholders as
required.
Ruby has been a director of Mitie since December 2002 and has
served as chief executive since April 2007. She has led the
business for nearly a decade, steering it through significant
industry and company transformation. During that time she has been
instrumental in building strong relationships with our key
customers and in creating the market leading integrated facilities
management business in the UK.
Phil Bentley brings a wide range of executive and leadership
experience from across industry, including most recently at Cable
and Wireless Communications PLC, where he served as Group Chief
Executive Officer, until its acquisition by John Malone's Liberty
Global. He previously ran British Gas, the UK's leading energy and
home services provider, for seven years. Prior to that, he held a
range of senior management and finance roles at Centrica and
Diageo. Much of his early finance career in BP was spent overseas.
He is a qualified accountant and holds an MBA from Insead.
Ruby McGregor-Smith commented:
"It has been a real honour to serve on the Board of Mitie and in
particular to hold the role of chief executive. I am delighted that
we are now in a position to appoint a new chief executive for Mitie
and I wish Phil a successful future with the group.
"I would like to say a big thank you to everyone at Mitie who
has helped make this such an extraordinary place to work, in
particular my management team. Thank you also to all the people who
have worked for us since I joined, and to all of our other
stakeholders, especially our clients, for their support over the
past decade."
Roger Matthews, Chairman of Mitie said:
"I would like to thank Ruby for the very significant
contribution she has made to Mitie over the past 14 years. Since
becoming CEO, she has doubled revenue and profits, built a
market-leading UK facilities management business, and been an
inspiration to Mitie's employees. I wish her every success for the
future.
"I am delighted that Phil Bentley is joining Mitie. He has
proven CEO experience with an excellent track record of
significantly enhancing shareholder value in services businesses. I
welcome him to the group and I am looking forward to working with
him."
Phil Bentley said:
"Ruby has done a brilliant job building Mitie into the admired
industry leader it is today. Although it is a challenging time for
the sector, we have a strong platform from which I am certain we
can now prosper.
"I am really looking forward to working with my new colleagues,
delivering world-class services to our customers and creating
sustainable shareholder value."
-Ends-
This announcement includes inside information.
For further information, contact:
John Telling
Group Corporate Affairs Director, Mitie Group plc
T: +44 (0) 203 123 8673 M: +44 (0) 7979 701 006 E: john.telling@mitie.com
Lauren Hepburn
IR & PR manager, Mitie Group plc
T: +44 (0) 203 123 8720 M: +44 (0) 7469 405 E: lauren.hepburn@mitie.com
Notes for editors
Phil Bentley
Phil Bentley was the Chief Executive of Cable & Wireless
Communications Plc from Jan 2014 to May 2016 until its sale to
Liberty Global. Based in Miami, he took the company from #254 in
the FTSE to #113 on acquisition.
For the previous 7 years (2007-2013) he was Managing Director of
British Gas where he led a transformation in customer service,
investing in leading technology and more than tripling profits over
the period.
He was on the Board at Centrica plc from 2000 to 2013, holding
the roles of Group Finance Director (2000-2004) and Managing
Director, Europe (2004-2007). He was previously Finance Director
for Diageo plc's spirits division and Group Treasurer.
He joined BP's graduate recruitment scheme in 1980, training as
a Management accountant. He worked in China from 1983-5, Egypt
(1988-91) and the USA, before returning to the UK as Head of
Capital Markets. He joined Grand Metropolitan in 1995, which became
Diageo in 1997; from 1999 until 2000 he was Finance Director of UDV
Guinness.
He has a Masters Degree from Oxford University and an MBA from
INSEAD in France.
What is Mitie?
Mitie is a FTSE250 strategic outsourcing company.
We work with people who want to perform better - now and in the
future. We help our clients to run more efficient and effective
businesses by looking after their facilities, their energy needs
and the people they're responsible for.
We're all about developing our people to excel every day,
challenge the status quo, and inspire change in the way people live
and work.
Find out more at www.mitie.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
BOAFSUFAUFMSEIS
(END) Dow Jones Newswires
October 10, 2016 02:00 ET (06:00 GMT)
Mitie (LSE:MTO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Mitie (LSE:MTO)
Historical Stock Chart
From Apr 2023 to Apr 2024
