Compass Group PLC Director Changes (2826N)
22 Septiembre 2023 - 1:00AM
UK Regulatory
TIDMCPG
RNS Number : 2826N
Compass Group PLC
22 September 2023
Legal Entity Identifier (LEI) No. 2138008M6MH9OZ6U2T68
22 September 2023
Compass Group PLC
Director Changes
Compass Group PLC today announces that, after nearly 40 years of
dedicated service, Gary Green has informed the Board that he wishes
to retire as Group Chief Operating Officer (COO), North America and
as a director of Compass Group PLC. He will step down from the
Board on 30 November 2023, however, he remains available to Compass
Group until 31 March 2024.
Palmer Brown will assume the role of Group Chief Operating
Officer, North America with effect from
1 December 2023 and will remain a director of the Board. Palmer
will hand over his responsibilities as Group Chief Financial
Officer (CFO) to Petros Parras, current Regional Finance Director,
Europe Middle East (EME). Palmer Brown joined the US business 22
years ago and has spent most of his working career in North America
in a variety of senior finance, strategy, and legal roles. He has
been responsible for many strategic acquisitions and disposals for
the Group and served as Group Commercial Director before becoming
Group Chief Financial Officer in 2021.
Petros Parras joined the business in January 2020. Prior to
Compass, Petros worked in FMCG businesses including Procter &
Gamble, Reckitt Benckiser and Coty in Europe and North America in
senior finance, operational and strategic roles. Petros has been
Regional Finance Director for EME for close to four years where he
has played a key role in the turnaround of the region, focusing on
growth strategies, the operating model and core processes as well
as the use of data analytics to drive better commercial outcomes.
Petros will join the Board on
1 December 2023.
Ian Meakins, Chairman, said:
"Our detailed succession planning has led to the development of
an exceptional bench of candidates, and I am pleased to see these
two key positions being filled by internal talent.
"Over a career of nearly 40 years, Gary has made an outstanding
contribution to Compass Group, and built a remarkable business in
North America. Many of the processes and strategic initiatives he's
implemented in the region are being adopted elsewhere in the
business with great success. In recent years, Gary skilfully
navigated the pandemic, building an even stronger foundation from
which the business can thrive, and firmly setting it on a path of
sustainable growth for the future. The Board wishes Gary and his
family every happiness following his retirement."
Dominic Blakemore, Group Chief Executive Officer, said:
"I would like to thank Gary for his exceptional contribution to
the business. Gary was Group Chief Operating Officer for North
America for 24 years and has been instrumental in making the region
the most successful in our portfolio. During his tenure, Gary has
led the business to deliver consistently strong financial
performance. His track record in North America has been
unparalleled, growing our North American business's revenues from
just under GBP2 billion in 1999 to over GBP17 billion in 2022
whilst increasing profits from GBP75 million to GBP1.2 billion over
the same period. On a personal note, I feel honoured to have worked
with Gary for the past 11 years and wish him a long and enjoyable
retirement.
"I am delighted that the Board has appointed Palmer to lead the
North American business. I can't think of a better qualified
individual to take over the leadership of the region as it
continues to grow in the years ahead. I would also like to formally
welcome Petros to the Board. Petros has done an excellent job in
EME, and I look forward to our close collaboration in the
future."
Gary Green, Group Chief Operating Officer, North America:
"My Compass journey started in 1986 when I joined the Group in
the UK before moving to the USA in 1994. I am honoured to have led
the North American business as its COO over the past two decades
and I'm very grateful for the many opportunities and experiences
that this role has offered me. I've had the pleasure of working
alongside many talented colleagues across the Group, and given the
strength of our people and culture, I believe now is the time to
hand over the business to the extremely capable team. I am
delighted that the Board has appointed Palmer Brown as my
successor. Palmer and I have worked closely for over two decades
and he is absolutely the best person to drive the business
forward."
Enquiries
Agatha Donnelly, Helen Javanshiri & Simon +44 1932 573
Investors Bielecki 000
+44 1932 963
Press Giles Robinson, Compass Group PLC 486
+44 207 404
Tim Danaher, Brunswick 5959
Website www.compass-group.com
Notes to Editors
Compass Group PLC is a world leading food service company, which
generated annual revenues of GBP25.8 billion in the year to 30
September 2022. It serves meals to millions of people and employs
and engages with over 500,000 people. The Company specialises in
providing food and a range of support services across the core
sectors of Business & Industry, Healthcare & Senior Living,
Education, Sports & Leisure, and Defence, Offshore &
Remote, with an established brand portfolio.
Palmer Brown and Petros Parras' service agreements, remuneration
and benefits are consistent with Compass Group PLC's Remuneration
Policy as approved by shareholders at the AGM in February 2022.
The Company will disclose details of Gary Green's retirement
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 Petros Parras' appointment.
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END
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