Rentokil Initial PLC (LSE:RTO) shares climbed after the pest controller, which has disappointed the market in the past year over its struggles to integrate a big US acquisition, appointed a new chief financial officer.
Paul Edgecliffe-Johnson, who brings 25 years' experience in finance and international businesses, most recently having been CFO at Anglo-US betting giant Flutter Entertainmen, will join the board on 1 January 2025.
He succeeds Stuart Ingall-Tombs, who is retiring and will step down from the board at the end of next month after 17 years with the company, of which the past four were a CFO.
Edgecliffe-Johnson, who was also group head of strategy at InterContinental Hotels and an associate director for corporate finance at HSBC, is joining the company next Monday as as CFO designate as part of the transition process.
Chair Richard Solomons said the new appointment "possesses the right skills and experience needed to lead our financial operations and deliver business success".
He highlighted Edgecliffe-Johnson decade-plus of company CFO experience, "including at IHG where we worked together", and said he "has a proven track record of driving profitable growth, optimising financial performance and implementing strategic initiatives".
CEO Andy Ransom said his "insights and guidance he will bring will be invaluable as we continue to execute our Right Way strategy in North America and across the rest of the group."
The shares rose 2.6% to 417.2p.