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McGregor-Smith to step down from helm of struggling Mitie

Published 10/10/2016

Ruby McGregor-Smith is stepping down as chief executive of outsourcing firm Mitie
Ruby McGregor-Smith is stepping down as chief executive of outsourcing firm Mitie

Struggling outsourcing firm Mitie has announced that Ruby McGregor-Smith is to step down as chief executive, with former Cable & Wireless boss Phil Bentley replacing her.

The group, which was forced to issue a profits warning last month, said Mr Bentley will take up the top job on December 12.

The firm said: "Late last year, at the request of Ruby McGregor-Smith, the board commenced a detailed review of its succession plan for the role of chief executive. External advisers were appointed to support this process, assessing a range of both internal and external candidates.

"The board is now in a position to confirm that Ruby will step down as a director and as chief executive of Mitie and from the board on 12 December 2016."

Mitie shares took a hammering in September after the firm warned that full-year profits will come in "materially below" expectations as uncertainty caused by the EU referendum, lower growth and higher staff costs hit the company.

The FTSE 250 group, whose clients include Rolls-Royce and the Home Office, said it is facing "significant economic pressures".

"These include lower UK growth rates, changes to labour legislation and further public sector budget constraints, and uncertainty both pre and post the EU referendum," the firm said.

Mr Bentley was chief executive of Cable & Wireless from 2014 to May this year. Prior to that, he served a seven-year stint as managing director of British Gas.

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