ServiceMaster Names Naren Gursahaney Board Chair
May 01 2019 - 8:30AM
Business Wire
Reaffirms 2019 guidance
ServiceMaster Global Holdings, Inc. (NYSE: SERV), a leading
provider of essential services to residential and commercial
customers in the termite, pest control, cleaning and
restoration markets, today announced the appointment of Naren
Gursahaney as Chair of the Board of Directors, succeeding Mark
Tomkins.
Mr. Gursahaney’s experience leading the execution of ADT’s
customer-centric growth strategy, as its CEO and a director
following its spin-off from Tyco, will be instrumental in helping
ServiceMaster leadership pursue its growth strategy following the
spin-off of frontdoor, inc., the parent company of American Home
Shield. In addition, Mr. Gursahaney’s experience as an independent
director at NextEra Energy, a Fortune 200 company, will be
invaluable as ServiceMaster continues to accelerate growth.
“Naren has been a valued board member and counselor to
ServiceMaster,” said Chief Executive Officer Nik Varty. “His
distinguished background as a successful leader of public companies
and strong track record of sustainable growth will be a major asset
to our executive team and our investors.”
Mr. Gursahaney was appointed to the board of directors in
December 2017. He is the former president and chief executive
officer of The ADT Corporation, a leading provider of security and
automation solutions for homes and businesses in the United States
and Canada. Prior to ADT’s separation from Tyco International Ltd.
in September 2012, Gursahaney served as president of Tyco’s ADT
North American Residential business segment and was the president
of Tyco Security Solutions, then a provider of electronic security
to residential, commercial, industrial and governmental customers
and the largest operating segment of Tyco. He currently serves on
the board of directors of NextEra Energy, Inc. Gursahaney has
extensive operations, strategic planning and leadership experience
in large, global residential and commercial services.
Mr. Tomkins will remain a member of the Board of Directors and
will serve as Chair of the Audit Committee. Mr. Tomkins has served
as one of our directors since June 2015 and Chair since May 2016.
He has been a private investor since 2006. During his tenure as
Chair of the Board, Mr. Tomkins left an indelible mark on the
company. His stewardship during the Company’s executive
leadership transition, the Terminix business transformation, and
the restructuring of the company through the successful spin-off of
the American Home Shield business has positioned the company for a
strong future.
Full-Year 2019 Outlook
In addition, the company reaffirms its full-year 2019 outlook.
The company continues to expect full-year 2019 revenue to range
between $2,020 and $2,050 million and Adjusted EBITDA to range
between $435 and $445 million with organic revenue growth at the
Terminix segment between 2 and 3 percent for the year.
About ServiceMaster
ServiceMaster Global Holdings, Inc. is a leading provider of
essential residential and commercial services, operating through an
extensive service network of more than 8,000 company-owned
locations and franchise and license agreements. The company’s
portfolio of well-recognized brands includes AmeriSpec (home
inspections), Copesan (commercial national accounts pest
management), Furniture Medic (cabinet and furniture repair), Merry
Maids (residential cleaning), ServiceMaster Clean (janitorial),
ServiceMaster Restore (disaster restoration), Terminix (termite and
pest control) and Terminix Commercial (commercial termite and pest
control). The company is headquartered in Memphis, Tenn. Go to
www.servicemaster.com for more information about ServiceMaster or
follow the company at twitter.com/ServiceMaster or
Facebook.com/ServiceMaster.
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version on businesswire.com: https://www.businesswire.com/news/home/20190501005225/en/
Investor Relations:Jesse
Jenkins901.597.8259Jesse.Jenkins@servicemaster.com
Media:James
Robinson901.597.7521James.Robinson@servicemaster.com
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