Rentokil Initial Announces Chairman Designate
Richard Solomons, the former InterContinental Hotels Group plc chief executive, will succeed current Rentokil Initial Chairman John McAdam who steps down at the company's AGM on 8 May, subject to shareholder approval.
Solomons, who joins the company as a non-executive director with effect from 1 March, currently serves as a senior independent director and Chair of the Audit Committee of Aston Martin Lagonda Global Holdings plc.
His tenure at InterContinental Hotels Group included the positions of managing director, Chief Financial Officer, Chief Operating Officer and Interim President of IHG's Americas region.
Solomons previously worked as an investment banker at the New York and London offices of Hill Samuel, and also sits on the board of governors of the University of Manchester where he, himself, read economics prior to joining KPMG as a trainee accountant.
Commenting on the appointment, Richard Burrows, the Company's Senior Independent Director who led the planned succession process, said: "I am delighted that Richard Solomons has been chosen to succeed John McAdam as Chairman. We ran a rigorous process to determine the best possible candidate to lead the Board through the exciting next phase of Rentokil Initial's growth. My fellow board members and I are confident that Richard's personal qualities and deep, relevant experience running major global service-led organisations will be a very strong fit for the challenges and opportunities ahead, working with Andy and the executive team."
Commenting on the appointment, Andy Ransom, Chief Executive, said "I would like to welcome Richard Solomons to the Board and also to take this opportunity to thank John McAdam for his exemplary leadership of the Board since we joined Rentokil Initial together in 2008. Over the past 10 years, we have made enormous progress in transforming the business from its difficult position in 2008, and positioning it for further success. The support from John and the rest of the Board for the executive team during this period has been exceptional. We can look forward to the future with great optimism, building on the foundations that he helped us lay down."