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Compass Group chief executive to step down

The catering company's chief executive of 11 years will step down in 2018
September 25, 2017

It’s not often that a change in management can cause a notable share price move, but shares in Compass Group (CPG) fell 3 per cent after it was announced that longstanding chief executive Richard Cousins would step down from the end of March next year. Over the past 11 years with Mr Cousins at the helm Compass's share price has risen from around 240p in 2006 to 1,573p today, a six-and-a-half-fold increase.

IC TIP: Buy at 1,573p

Dominic Blakemore will become deputy chief executive from the beginning of next month before eventually taking over from Mr Cousins. Mr Blakemore spent four years as chief financial officer at the catering company before becoming chief operating officer two years ago.