REG - Rentokil Initial PLC - Appointment of Non-Executive Director

Rentokil InitialAnnouncement

25/09/2024 07:00

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RNS Number : 5139F  Rentokil Initial PLC  25 September 2024

25 September 2024

 

 Appointment of Non-Executive Director

 

Rentokil Initial plc (FTSE: RTO, "the Company") today announces the
appointment of Brian Baldwin to its Board as a Non-Executive Director with
effect from 1 October 2024. He will also become a member of the Nomination
Committee and Remuneration Committee from this date.

 

Mr. Baldwin is the Head of Research of Trian Fund Management, L.P. ("Trian"),
an investment management firm. Mr Baldwin has been a Trian Partner since 2013
and a member of Trian's Investment Team since 2007. He has played leadership
roles in many of Trian's investments.

 

Mr. Baldwin has been a non-executive director of Janus Henderson Group plc
since 2022 and currently serves on the Board's Nominating and Corporate
Governance Committee and the Risk Committee. From 2018 to 2020, he served as a
director and member of the Compensation and Governance Committees of nVent
Electric plc (formerly the electrical business of Pentair plc before becoming
a standalone public company).

 

Prior to joining Trian, Mr. Baldwin was an analyst at Merrill Lynch Global
Private Equity from 2005 to 2007. Mr. Baldwin received a B.S. degree, summa
cum laude, from The Wharton School at the University of Pennsylvania.

 

Richard Solomons, Chairman of Rentokil Initial, said:

 

"We are delighted to welcome Brian to the Board of Rentokil Initial and we
look forward to working with him to deliver long-term sustainable value for
our shareholders and, in particular, executing our plans to integrate the
Terminix business and to increase organic growth in our North America
operations. We continue to work towards the substantial structural growth
opportunities for our pest control business, enhanced by the benefits of the
Terminix transaction."

 

Brian Baldwin said:

 

"I welcome the opportunity to join the Board of Rentokil Initial. Trian
believes Rentokil has significant potential and runway for growth that can be
achieved by leveraging its strong brands and market leading positions,
particularly in the US. I look forward to working with management and the
Board to identify options to help drive long-term value that will benefit all
stakeholders."

 

Trian has confirmed to the Company that it manages investment vehicles owning
approximately 57.1 million shares of Rentokil Initial (approximately 2.26% of
shares outstanding).

 

There are no further details to be disclosed relating to Brian Baldwin under
Section 6.4.8 of the UK Listing Rules.

 

 

 

For further information please contact:

 

Rentokil Initial plc

 Investors          Peter Russell   07795 166506
 Media              Malcolm Padley  07788 978 199
 Company Secretary  Rachel Canham   01293 858 000

 

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