– UK, Bristol – Mitie Group plc (LSE:MTO), the strategic outsourcing company, today provides an update on its CEO succession plans.
Late last year, at the request of Ruby McGregor-Smith, the Board commenced a detailed review of its succession plan for the role of chief executive. External advisors were appointed to support this process, assessing a range of both internal and external candidates.
The Board is now in a position to confirm that Ruby will step down as a director and as chief executive of Mitie and from the board on 12 December 2016. It is also pleased to announce that Phil Bentley has been appointed to succeed her in the role. Phil will join as a director of Mitie on 1 November 2016, and assume the position of Chief Executive on 12 December 2016. Ruby will work closely with Phil to ensure an effective transition including with clients, employees, investors and other stakeholders as required.
Ruby has been a director of Mitie since December 2002 and has served as chief executive since April 2007. She has led the business for nearly a decade, steering it through significant industry and company transformation. During that time she has been instrumental in building strong relationships with our key customers and in creating the market leading integrated facilities management business in the UK.
Phil Bentley brings a wide range of executive and leadership experience from across industry, including most recently at Cable and Wireless Communications PLC, where he served as Group Chief Executive Officer, until its acquisition by John Malone’s Liberty Global. He previously ran British Gas, the UK’s leading energy and home services provider, for seven years. Prior to that, he held a range of senior management and finance roles at Centrica and Diageo. Much of his early finance career in BP was spent overseas. He is a qualified accountant and holds an MBA from Insead.
Ruby McGregor-Smith commented: “It has been a real honour to serve on the Board of Mitie and in particular to hold the role of chief executive. I am delighted that we are now in a position to appoint a new chief executive for Mitie and I wish Phil a successful future with the group.
“I would like to say a big thank you to everyone at Mitie who has helped make this such an extraordinary place to work, in particular my management team. Thank you also to all the people who have worked for us since I joined, and to all of our other stakeholders, especially our clients, for their support over the past decade.”
Roger Matthews, Chairman of Mitie said: “I would like to thank Ruby for the very significant contribution she has made to Mitie over the past 14 years. Since becoming CEO, she has doubled revenue and profits, built a market-leading UK facilities management business, and been an inspiration to Mitie’s employees. I wish her every success for the future.
“I am delighted that Phil Bentley is joining Mitie. He has proven CEO experience with an excellent track record of significantly enhancing shareholder value in services businesses. I welcome him to the group and I am looking forward to working with him.”
Phil Bentley said: “Ruby has done a brilliant job building Mitie into the admired industry leader it is today. Although it is a challenging time for the sector, we have a strong platform from which I am certain we can now prosper.
“I am really looking forward to working with my new colleagues, delivering world-class services to our customers and creating sustainable shareholder value.”
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