Rentokil Initial plc (LON: RTO, NYSE: RTO), has reported that it traded in line with market expectations for the full year ending 31 December 2024. The Company also announces that Brad Paulsen will be leaving the Group in April 2025 to pursue a new opportunity.
Trading
In Q4 2024, North America Organic Revenue growth was 2.3% (Q3 2024: 1.4%), with Organic Revenue growth in North America Pest Control Services of 1.5%, supported by improved momentum in inbound lead flow from our marketing initiatives. Group Organic Revenue growth in Q4 2024 was 3.0%.
FY 2024 North America Adjusted Operating Margin, Group Adjusted Operating Margin and Group Adjusted PBTA were also in line with prior guidance.
In North America, our integration is continuing to plan. Q4 pilots of new satellite branches, new technician and sales pay plans, and first re-routing and re-branding activities were delivered to plan.
Further information on the Group performance and outlook will be provided at the scheduled Preliminary Results announcement on 6 March 2025.
North America change of management
The Company also announces that Brad Paulsen has decided to step down from his position as CEO of North America. Brad will be leaving the Company to pursue a new opportunity at a US publicly listed company in the building materials sector. To ensure a smooth transition, Brad will remain with the Company until April. The Company wishes Brad well for the future and thanks him for his contributions to the business.
The Company is delighted to confirm that Alain Moffroid, Chief Commercial Officer, is being appointed Interim North America CEO. Alain joined Rentokil Initial in 2013 from Unilever where he was VP Customer Development, covering Asia, Pacific, Africa & Russia. After initially serving at Rentokil Initial as Managing Director, Pacific he subsequently became Managing Director, Europe in September 2019. He was appointed Chief Commercial Officer in April 2024. He is a highly experienced leader in the Company with extensive experience of both residential and commercial pest control and is currently working closely with the North American business on its customer experience and retention, digital and innovation programmes. He will join the North American business in the coming weeks.
