Directorate Change

RNS Number : 8413N
Compass Group PLC
04 October 2021
 

Legal Entity Identifier (LEI):   No. 2138008M6MH9OZ6U2T68

 

 

 

 

 

 

 

 

4 October 2021

 

 

Directorate Change

 

 

Compass Group PLC announces that Karen Witts has mutually agreed with the Board that she will step down as Chief Financial Officer and as a Director of the Company with effect from 31 October 2021.

 

Palmer Brown has been appointed Chief Financial Officer Designate and a Director of the Company with immediate effect. He will assume the role of Chief Financial Officer with effect on and from 1 November 2021 and will also join the Corporate Responsibility Committee.

 

Palmer is currently Compass' Group Commercial Director and served as Interim CFO for a period from 2018 to 2019.  He joined Compass in 2001 and during this time has held a variety of senior finance, strategy and legal positions and has played a central role as a member of the highly successful executive team in North America. He has also coordinated many of the acquisitions and divestitures for the Group. Palmer has degrees in business and law and is a Certified Public Accountant. Karen will remain available to assist with a transition.

 

Ian Meakins, Compass Group's Chairman, said:

 

"We would like to thank Karen for her valuable contribution, particularly over the last 18 months which has been a time of exceptional challenge for Compass. She will leave the Group in strong financial health."

 

"The Board is pleased to appoint Palmer as Chief Financial Officer. Palmer, who has been with the Group for more than 20 years, knows the business very well and is ideally suited to help lead the Group as it recovers strongly from the impact of the Covid-19 pandemic."

 

Dominic Blakemore, Compass Group's Chief Executive Officer , said:

 

"I would also like to thank Karen for her significant support as the Company has successfully faced up to the unprecedented demands on our business posed by the pandemic."

 

"Palmer has contributed to the success of Compass over many years and his commercial and financial skillset and his deep knowledge of the Group are ideally suited to our next phase of development and growth."

 

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Enquiries

 

Investors:

Alvin Concepcion , Agatha Donnelly & Helen Javanshiri  

+44 (0) 1932 573 000

 

Press:   

Tim Danaher, Brunswick 
+44 (0) 207 404 5959

 

Website: 
www.compass-group.com  

 

 

 

Notes to Editors

 

Compass Group PLC is the world's leading food service company, which generated annual revenues of £20.2 billion in the year to 30 September 2020.  It operates in around 45 countries, employs and engages around 550,000 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.  

 

Remuneration

 

Palmer Brown's service agreement, remuneration and benefits are consistent with Compass Group's Remuneration Policy as approved by shareholders at the AGM in February 2021.

 

The Company will disclose details of Karen Witts' exit arrangements on its website in due course in accordance with its statutory obligations.

 

This announcement is made pursuant to LR 9.6.11 of the Listing Rules. There is no further information to be disclosed under the requirements of LR 9.6.13 (2) to (6) of the Listing Rules in relation to Palmer Brown's appointment.

 

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