Compass FD Johnny Thomson to step down

Compass Group said on Wednesday that Johnny Thomson will step down from his role as finance director and leave the company by the end of December.

A search for his successor will be started immediately.

Chief executive Dominic Blakemore said: "Johnny has played a critical role in Compass' success, both managing regions of our group and as group finance director, and he leaves the business in strong financial health. I wish Johnny well and thank him for his contribution to the business."

Chairman Paul Walsh said: "We are very grateful to Johnny for his significant contribution to Compass over the last nine years and wish him all the very best for the future."

Liberum said this is the most significant management change since Dominic Blakemore succeeded Richard Cousins as CEO in January this year.

"It is not yet known where Johnny is going but we expect the Compass vacancy to attract a lot of interest both internally and externally given its global operations and M&A and disposal activity.

"Compass is a well run business and we do not expect today's announcement to change our investment thesis."

At 0810 BST, the shares were down 1.7% to 1,595p.