REG - Rentokil Initial PLC - North American Management Changes

Rentokil InitialAnnouncement

01/12/2023 07:00

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RNS Number : 2982V  Rentokil Initial PLC  01 December 2023

Rentokil Initial appoints Brad Paulsen as CEO, North America Region

 

Rentokil Initial plc (LON: RTO, NYSE: RTO) ("the Company"), a global leader in
Pest Control and Hygiene & Wellbeing services, announces the appointment
of Brad Paulsen as CEO of its North America Region. Brad will join Rentokil
Initial in December and will be a member of the Company's Executive Leadership
Team. He will report to Andy Ransom, CEO.

 

 ●    Brad is currently the CEO for Rexel USA, a leading distributor of electrical
      parts, services and solutions with over 450 US branches and $7 billion in
      annual sales.

 ●    He joined Rexel USA from HD Supply, where he served as the Chief Operating
      Officer for one of the United States' largest MRO (maintenance, repair, and
      operating products') distributors.  Prior to his time at HD Supply, he spent
      over nine years at The Home Depot serving in various merchandising leadership
      roles.

 ●    Brad attended The United States Military Academy at West Point and graduated
      with a Bachelor of Science in Economics.  Additionally, he holds a Master of
      Business Administration from Vanderbilt University.

 ●    Brad has served as a Non-Executive Director for Dot Family Holdings, the
      largest food industry redistributor in North America, for the past two years.

The Company is also delighted to announce the appointment of Will Lin as Vice
President - Performance and Digital Marketing, North America. Will is a
highly-experienced digital marketeer with a strong data and analytics
background. He has joined recently from Simplilearn (a global learning
platform for digital skills), where he was Chief Marketing Officer. Previous
experience includes roles at Rent.com (a Redfin company), VRBO (an Expedia
company), Microsoft and Hewlett-Packard.

 

Andy Ransom, CEO of Rentokil Initial plc, commented:

 

"Brad has gained significant leadership experience from his years at Rexel, HD
Supply and Home Depot, across a mix of multi-site retail and route-based
service organisations. We have a significant opportunity for growth and value
creation as we integrate Terminix in North America and Brad brings a proven
track record of successful delivery. We're delighted to welcome him at this
exciting time for the Company."

 

Brad Paulsen said:

 

"I'm excited to be joining this world class company and very much looking
forward to working with John Myers (US Pest Control CEO) and the team to
deliver the integration, building on the strong foundations that have already
been laid, and using our strengths of brilliant people, brands, innovations
and technologies to drive profitable growth and provide an even better service
for customers.  I can't wait to get started."

 

 

For further information, please contact:

 

 Investors / Analysts:  Peter Russell, Rentokil Initial plc     +44 7795 166 506
 Media:                 Malcolm Padley, Rentokil Initial plc    +44 7788 978 199

Cautionary statement

In order to utilise the 'safe harbour' provisions of the U.S. Private
Securities Litigation Reform Act of 1995 (the "PSLRA") and the general
doctrine of cautionary statements, Rentokil Initial plc ("the Company") is
providing the following cautionary statement: This communication contains
forward-looking statements within the meaning of the PSLRA. Forward-looking
statements can sometimes, but not always, be identified by the use of
forward-looking terms such as "believes," "expects," "may," "will," "shall,"
"should," "would," "could," "potential," "seeks," "aims," "projects,"
"predicts," "is optimistic," "intends," "plans," "estimates," "targets,"
"anticipates," "continues" or other comparable terms or negatives of these
terms and include statements regarding Rentokil Initial's intentions, beliefs
or current expectations concerning, amongst other things, the results of
operations of the Company and its consolidated entities ("Rentokil Initial" or
"the Group"), financial condition, liquidity, prospects, growth, strategies
and the economic and business circumstances occurring from time to time in the
countries and markets in which Rentokil Initial operates. Forward-looking
statements are based upon current plans, estimates and expectations that are
subject to risks, uncertainties and assumptions. Should one or more of these
risks or uncertainties materialise, or should underlying assumptions prove
incorrect, actual results may vary materially from those indicated or
anticipated by such forward-looking statements. The Company can give no
assurance that such plans, estimates or expectations will be achieved and
therefore, actual results may differ materially from any plans, estimates or
expectations in such forward-looking statements. Important factors that could
cause actual results to differ materially from such plans, estimates or
expectations include: the Group's ability to integrate acquisitions
successfully, or any unexpected costs or liabilities from the Group's
disposals; difficulties in integrating, streamlining and optimising the
Group's IT systems, processes and technologies; the availability of a suitably
skilled and qualified labour force to maintain the Group's business; the
Group's ability to attract, retain and develop key personnel to lead the
business; the impact of environmental, social and governance ("ESG") matters,
including those related to climate change and sustainability, on the Group's
business, reputation, results of operations, financial condition and/or
prospects; inflationary pressures, such as increases in wages, fuel prices and
other operating costs; supply chain issues, which may result in product
shortages or other disruptions to the Group's business; weakening general
economic conditions, including changes in the global job market or decreased
consumer confidence or spending levels; the Group's ability to implement its
business strategies successfully, including achieving its growth objectives;
the Group's ability to retain existing customers and attract new customers;
the highly competitive nature of the Group's industries; cybersecurity
breaches, attacks and other similar incidents; extraordinary events that
impact the Group's ability to service customers without interruption,
including a loss of its third-party distributors; the Group's ability to
protect its intellectual property and other proprietary rights that are
material to the Group's business; the Group's reliance on third parties,
including third-party vendors for business process outsourcing initiatives,
investment counterparties, and franchisees, and the risk of any termination or
disruption of such relationships or counterparty default or litigation;
failure to maintain effective internal control over financial reporting in
accordance with Section 404 of the Sarbanes-Oxley Act; any future impairment
charges, asset revaluations or downgrades; failure to comply with the many
laws and governmental regulations to which the Group is subject or the
implementation of any new or revised laws or regulations that alter the
environment in which the Group does business, as well as the costs to the
Group of complying with any such changes; termite damage claims and lawsuits
related thereto; the Group's ability to comply with safety, health and
environmental policies, laws and regulations, including laws pertaining to the
use of pesticides; any actual or perceived failure to comply with stringent,
complex and evolving laws, rules, regulations and standards, as well as
contractual obligations, relating to data privacy and security; changes in tax
laws and any unanticipated tax liabilities; adverse credit and financial
market events and conditions, which could, among other things, impede access
to or increase the cost of financing; the restrictions and limitations within
the agreements and instruments governing our indebtedness; a lowering or
withdrawal of the ratings, outlook or watch assigned to the Group's debt
securities by rating agencies; an increase in interest rates and the resulting
increase in the cost of servicing the Group's debt; and exchange rate
fluctuations and the impact on the Group's results or the foreign currency
value of the Company's ADSs and any dividends. The list of factors presented
here is representative and should not be considered to be a complete statement
of all potential risks and uncertainties. Unlisted factors may present
significant additional obstacles to the realisation of forward-looking
statements. The Company cautions you not to place undue reliance on any of
these forward-looking statements as they are not guarantees of future
performance or outcomes and that actual performance and outcomes, including,
without limitation, the Group's actual results of operations, financial
condition and liquidity, and the development of new markets or market segments
in which the Group operates, may differ materially from those made in or
suggested by the forward-looking statements contained in this communication.
Other than in accordance with the Company's legal or regulatory obligations
(including under the Listing Rules and the Disclosure Guidance and
Transparency Rules), the Company does not undertake any obligation to update
or revise publicly any forward-looking statement, whether as a result of new
information, future events or otherwise. Nothing in this announcement should
be construed as a profit forecast.

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