Rentokil Initial – “UK Senior Management is really KILLING this once great company.”

Pros

Rentokil and all of its business lines (pest, textiles, washroom, tropical plants, facility mngmnt etc) is quite interesting and complex business. They have (had) large market shares, great customers, very (!) loyal employees and making in some places great money (>30% nett profit !).

Cons

Since 2008/2009 UK senior management was replaced by former Unilever management where the top 3 (chairman, ceo and divisional mngmnt) can earn 30 million GBP each (!) if they reach their targets in 2011 / 2012. All the reorganizations, management changes, site closures, lay offs are driven by this bonus scheme of these guys.
Another issue is that UK senior managemeht (CEO, Chairman, CIO, div mngmnt, far east mngmnt, supply chain staff, finance staff, etc are meanwhile ALL former Unilever guys) is looking at this company, people, procedures, culture etc from a Unilever perspective which is TOTALLY different and does not make sense at all. So people are fired, business models are changed, big decisions are taken which do not make sense at all. So therefore many many reorganizations, changes failed, results are under pressure and they blame local country management.
Since Alan Brown (CEO) joined : stock price is way down, profits disappeard, revenue showed no progress and he keeps on blaming local management for lousy results and the so called 'bad old Rentokil culture'.
It's a shame.

Advice to Senior Management

Resign. Immediately. The chairman, CEO and divisional management should be replaced by normal people who have a feeling for this business and its people (!) and who do not manage this company from yheir ivory unilever tower bu tare in touch with reality.