Boss of catering giant Compass Group to step down
Group chief executive Richard Cousins will leave on March 31 before retiring from the board by the end of September next year.
The boss of catering giant Compass Group will step down next year, with the firm’s chief operating officer taking the helm.
Group chief executive Richard Cousins will leave on March 31 before retiring from the board by the end of the following September.
He will be replaced by COO Dominic Blakemore, who will become deputy chief executive at the beginning of October and step up to the top job on April 1.
In a statement, Mr Cousins said: “It has been a privilege to work with the many talented people that make up the Compass team.
“I am grateful to have enjoyed their support in building a world-class business that has enormous potential to prosper further.
“I look forward to working closely with Dominic in the next six months to ensure a smooth handover and I am confident that he will lead the group to even greater success in the future.”
Compass, which operates in 50 countries with more than 500,000 staff, saw third-quarter revenue growth of 3.9% when it announced a trading update in July.
The rise came from strong new business in North America, which helped offset challenging trading in countries outside Europe.
Chairman Paul Walsh said: “Dominic’s appointment is the result of a rigorous succession process.
“Dominic joined Compass Group in 2012 and has already contributed significantly to the group as CFO for four years and for the past two years as chief operating officer Europe.
“Dominic has the leadership skills combined with the industry and operational experience to build on the group’s strong track record, and as CEO to lead Compass to continued future success.”
Mr Blakemore said: “I am fortunate to be supported by a very strong senior management team and together we will continue to build on the success achieved under Richard’s leadership.”