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Rentokil Initial promotes North America chief financial officer to group bean counter

Stuart Ingall-Tombs is replacing Jeremy Townsend, who is leaving on August 14 after ten years in the role

Rentokil Initial - Rentokil Initial promotes North America chief financial officer to group bean counter

Rentokil Initial PLC (LON:RTO) has promoted Stuart Ingall-Tombs to be its group chief financial officer, stepping up from the same role in the firm's North American division.

He is replacing Jeremy Townsend, who announced earlier this year plans to step down from August 14, 2020, after ten years in the role. Townsend is joining the board of Wm Morrison Supermarkets PLC (LON:MWV) as a non-executive director with effect from today.

READ: Bunzl and Rentokil get upgrades from JPMorgan as virus effects not as bad as feared

Ingall-Tombs joined the pest control and hygiene services provider in 2007, as group financial controller and treasurer, then became chief financial officer of the European division. His annual base salary as CFO will be £500,000, rising to £550,000 on the first anniversary of his appointment based on performance.

In a statement, Rentokil chairman Richard Solomons said: "After a thorough selection process, the Board is pleased to have chosen Stuart as our next CFO. His international financial and commercial experience and deep understanding of the whole group will support him playing a critical role as we continue to execute our RIGHT WAY strategy."

Shares rose 1% to 518.2p on Monday at the opening bell.

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