Rentokil Initial senior independent director Peter Long has dismissed suggestions that the UK-listed services group's new management will preside over a break-up.
Rentokil Initial yesterday replaced chairman Brian McGowan and chief executive officer Brian Flynn, installing former ICI CEO John McAdam as chairman, and former ICI finance director Andy Brown as CEO.
Analysts had suggested that the new management would preside over a sale or break-up of the company. Long, however, said the new management's remit is not to break the company up. He added that the company will not talk to what he described as "bottom feeders" looking to acquire assets cheaply.
Rentokil Initial's market capitalisation currently stands at £1.55bn.
