Rentokil Initial rallies after naming Trian’s Baldwin to board

Rentokil Initial announced the appointment of Brian Baldwin to its board as a non-executive director with effect from October 1. He will also become a member of the Nomination Committee and Remuneration Committee. Baldwin is the Head of Research of Trian Fund Management. Trian has confirmed to the company that it manages investment vehicles owning approximately 57.1M shares of Rentokil Initial, or approximately 2.26% of the shares outstanding. “We are delighted to welcome Brian to the Board of Rentokil Initial and we look forward to working with him to deliver long-term sustainable value for our shareholders and, in particular, executing our plans to integrate the Terminix business and to increase organic growth in our North America operations. We continue to work towards the substantial structural growth opportunities for our pest control business, enhanced by the benefits of the Terminix transaction,” said Richard Solomons, Chairman of Rentokil. Shares of Rentokil Initial are up 4% to $25.50 in premarket trading.