The chief executive of Compass Group, the world’s largest catering group, is stepping down.
Richard Cousins, a City heavyweight with a reputation as a turnround man, is quitting as CEO next March and will retire fully from the board in September 2018. He will be replaced by Dominic Blakemore, Compass’ chief operating officer for Europe.
In January, Mr Cousins unexpectedly resigned from his position as senior independent director of Tesco, just days before Britain’s biggest retailer reported its Christmas trading figures. He had joined Tesco in 2014 when the retailer’s shareholders were reeling from an accounting scandal.
When Mr Cousins joined Compass in 2006, the catering group was embroiled in allegations of corruption in its business supplying the UN. Compass went on to settle the civil claims against it out of court.
In a statement, Mr Cousins offered no reasons for his resignation, instead saying:
“It has been a privilege to work with the many talented people that make up the Compass team. I am grateful to have enjoyed their support in building a world class business that has enormous potential to prosper further. I look forward to working closely with Dominic in the next six months to ensure a smooth handover and I am confident that he will lead the Group to even greater success in the future.”
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