Alf Duch-Pedersen, Chairman of G4S plc, has informed the board of directors of his intention to retire from the board in 2012
G4S plc ("G4S"), the international security solutions
provider, today announces that its Chairman, Alf
Duch-Pedersen, has informed the board of directors of his
intention to retire from the board in 2012. Mr
Duch-Pedersen will remain as Chairman until a suitable
successor has been appointed. The process to find a
replacement for Mr Duch-Pedersen is now underway and is
being conducted by the Nomination Committee, led by the
Senior Independent Director, Lord Condon.
Mr Duch-Pedersen was appointed as Deputy Chairman in May
2004 and became Chairman in June 2006. He is also Chairman
of the Nomination Committee.
Senior Independent Director and former Deputy Chairman,
Lord Condon, commented:
"On reaching 65, and following the board's decision to
terminate negotiations regarding the ISS acquisition, Alf
Duch-Pedersen has informed the board of his intention to
retire this year and we have reluctantly accepted his
decision. We are pleased that he is remaining as Chairman
for the duration of the selection process to ensure that
the transition to the new Chairman is as seamless as
possible.
During his time on the board, G4S has delivered significant
compound annual growth rates across all of its key
financial metrics - including 21% annual profit growth and
15% annual EPS growth - and successfully acquired and
integrated a large number of companies including GSL, a
large government outsourcing business which has been
instrumental in developing the group's government
outsourcing capability and has resulted in a number of
significant contract wins in recent years.
At the same time, the global workforce has grown
significantly, from 306,000 to 635,000 across 125 countries
of operation. Alf was a key member of the board during the
complex integration of Securicor and Group 4 to create G4S
and during a global re-branding exercise to create a single
corporate identity to appeal to an increasingly
international customer base.
On behalf of the Board, I would like to thank him for his
huge contribution to the success of the group and to the
development of the industry during his time on the board
and under his leadership as Chairman."
Commenting on his intended retirement, Alf Duch-Pedersen
said:
"I have a long history with the group and in some ways will
be sad to be stepping down, but the time is right to
appoint a new Chairman and I wanted to advise the board of
my intention to retire so that the process to appoint a
successor could begin in good time.
It has been an honour to lead the board of such a great
organisation and I would like to thank the board,
management and employees of G4S for their support over the
last seven years and for making G4S one of the world's
leading organisations.
Despite the macro-economic challenges in recent years, I am
confident that the group is in a strong position to develop
in the future under the leadership of Nick Buckles and his
management team and the stewardship of the new Chairman and
his or her fellow board members."
Media Enquiries- UK:
Adam Mynott - Director of Media Relations, G4S plc +44 (0)
1293 554400
John Sunnucks - Tulchan Group +44 (0) 20 7353 4200
Media Enquiries - Denmark:
Adam Mynott - Director of Media Relations, G4S plc +44 (0)
1293 554400
Lisbeth Wirgowitsch - Kommunikations Gruppen +45 (0) 33 98
00 00
Notes to Editors:
Alf Duch-Pedersen
Throughout his career, Mr Duch-Pedersen has led
multinational companies based in both Scandinavia and the
UK, covering a range of industries from manufacturing and
financial services to food and food products. He was
president and chief executive of Tryg Baltica A/S from 1991
to 1997 and fulfilled the same roles at Danisco A/S from
1997 to 2006. He was chairman of the board of Dankse Bank
A/S from 2004 until he retired in 2011.
G4S Compound Annual Growth Rates - 2004 - 2010
Revenue 16%
PBITA 21%
EPS 15%
TSR 13%
Listing Rule 9.6.12 R
In accordance with LR 9.6.12 R: The effective date of Mr
Duch-Pedersen's retirement is not yet known. The company
will therefore make a further announcement regarding that
date as soon as it has been decided.
- Helen Parris (Director of Investor Relations): +44 (0) 1293 554400
G4S is the world's leading security solutions group, which specialises in outsourcing of business processes in sectors where security and safety risks are considered a strategic threat.
G4S is the largest employer quoted on the London Stock Exchange and has an additional stock exchange listing in Copenhagen.
G4S has operations in more than 125 countries and more than
635,000 employees. For more information on G4S, visit .
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