Chair Announcement

RNS Number : 3767W

Compass Group PLC

18 August 2020

 

Legal Entity Identifier (LEI):   No. 2138008M6MH9OZ6U2T68

18 August 2020

Chair Announcement

Compass Group PLC ("Compass" or "the Group") is pleased to announce the appointment of Ian Meakins as non-executive Chairman and a Director of the Company.  Ian will join the Board on 1 September 2020 and will take over as Chairman on 1 December 2020 when Paul Walsh steps down from the Board. 

This follows the announcement made on 9 January 2020 that Paul Walsh was to step down as Chairman and a Director of the Company and would not seek re-election at the 2021 AGM. 

Ian was previously Group Chief Executive Officer of Ferguson PLC (formerly Wolseley PLC), Travelex and Alliance Unichem.  He was Senior Independent Director at Centrica and a non-executive Director at O2.  Ian is non-executive Chairman of Rexel SA.  

John Bason, Senior Independent Director, said:

"We are delighted to welcome Ian to the Board of Compass.  His appointment follows a thorough selection process led by the Nomination Committee of the Board.  Ian has an outstanding record of value creation and he brings a wealth of experience to Compass."

Ian Meakins, Chairman Designate, said:

" It is a great honour to take on the role of Chair at Compass.  I look forward to working with Dominic and the executive team to drive forward the Group's strategy and ensuring that it continues to create significant value for all stakeholders."

Dominic Blakemore, Chief Executive said:

"On behalf of the Board, and personally, I would like to thank Paul for the enormous contribution he has made to Compass. He has been an excellent Chair and he has played a crucial role in the successful development of the Group. I also want to welcome Ian to the Group, I look forward to working with him."

Paul Walsh, Chairman said:

"After almost seven years as Chairman, with a strong and well-established Chief Executive in place, it is the right time for me to step down.  Ian has deep experience of B2B and B2C companies and is an outstanding choice to succeed me.  Compass is a world class business and it has been a privilege to serve as its Chairman."

There is no other information relating to Ian Meakins that is required to be disclosed under Listing Rule 9.6.13R of the UK Listing Authority.

Enquiries

Investors  Sandra Moura, Simon Bielecki & Agatha Donnelly  [phone]

Press  Tim Danaher & Fiona Micallef-Eynaud, Brunswick  [phone]

Website  www.compass-group.com  

Note to Editors

a)  Ian Meakins Biography

Ian Meakins started his career in 1978 with Procter & Gamble .  In 1985 he worked as a senior manager with Bain & Company .  He was a Founding Partner at Kalchas Group (management consulting) where he worked from 1988 to 1991 and he worked at Diageo plc from 1992 to 2004, rising to President of European Major Markets and Global Supply.  Ian was CEO of Alliance UniChem plc until its merger with Boots in July 2006.  He later served as chief executive of Travelex Holdings Ltd before becoming CEO of Wolseley plc from 2009 to 2016.

Ian has been a non-executive Director of O2 and the Senior Independent Director at Centrica plc.  He is non-executive Chairman of Rexel SA.  Ian is currently non-executive Chairman of The Learning Network BV and will step down later in the year at a date to be decided. 

b)  Compass Group PLC is the world's leading food service company, which generated annual revenues of £25.2 billion in the year to 30 September 2019.  It operates in around 45 countries, employs and engages over 600,000 people and serves over 5.5 billion meals a year. The Company specialises in providing food and a range of support services across the core sectors of Business & Industry, Healthcare & Seniors, Education, Sports & Leisure and Defence, Offshore & Remote, with an established brand portfolio. 

c)  Organic revenue growth, a term used throughout the announcement, is calculated by adjusting for acquisitions (excluding current period acquisitions and including a full period in respect of prior period acquisitions), disposals (excluded from both periods) and exchange rate movements (translating the prior period at current period exchange rates).

d)  Forward looking statements

Certain information included in this announcement is forward-looking and involves risks, assumptions and uncertainties that could cause actual results to differ materially from those expressed or implied by forward-looking statements. Forward-looking statements cover all matters which are not historical facts and include, without limitation, projections relating to results of operations and financial conditions and the Company's plans and objectives for future operations, including, without limitation, discussions of expected future revenues, financing plans, expected expenditures and divestments, risks associated with changes in economic conditions, the strength of the foodservice and support services markets in the jurisdictions in which the Group operates, fluctuations in food and other product costs and prices and changes in exchange and interest rates. Forward-looking statements can be identified by the use of forward-looking terminology, including terms such as "believes", "estimates", "anticipates", "expects", "forecasts", "intends", "plans", "projects", "goal", "target", "aim", "may", "will", "would", "could" or "should" or, in each case, their negative or other variations or comparable terminology. Forward-looking statements are not guarantees of future performance. All forward-looking statements in this announcement are based upon information known to the Company on the date of this announcement. Accordingly, no assurance can be given that any particular expectation will be met and readers are cautioned not to place undue reliance on forward-looking statements, which speak only at their respective dates. Additionally, forward-looking statements regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. Other than in accordance with its legal or regulatory obligations (including under the UK Listing Rules and the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority), the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Nothing in this announcement shall exclude any liability under applicable laws that cannot be excluded in accordance with such laws.

e)  A copy of this release, together with all other recent announcements and presentations can be found on Compass Group's website at www.compass-group.com .

 

END

 

 

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