Rentokil boss to retire after 12 years at the helm

The boss of pest control firm Rentokil Initial has revealed plans to leave after nearly 12 years in the top job.

Andy Ransom will retire as chief executive by the firm’s annual general meeting next year.

The group said it had kicked off a search for his successor, led by chairman Richard Solomons.

Mr Ransom has been chief executive of the London-listed firm since October 2013, having first joined the board in May 2008 as executive director of corporate development.

He said: “I look forward to working with my successor in due course to ensure a successful transition.

“For now, I am focused on executing our growth plans in our North America business and expanding in our target markets around the world, so as to leave the company in the best possible shape for the future.”

Mr Solomons paid tribute to his “outstanding contribution” in the role.

He added: “The company has exceptional long term growth prospects but short term our priority is on turning around the underperforming North American business.

“Andy is very focused on this task and will ensure a smooth handover when a new chief executive is appointed.”

The group’s latest trading update showed the troubled North American business continued to lag behind the rest of the group after a “slow first quarter with continued subdued lead flow”.

The US business has suffered a turbulent time of late, with its former boss, Brad Paulsen, leaving in January after just over a year in the role.