Compass confirms succession plans after death of CEO Richard Cousins

Compass Group has confirmed the death of its chief executive, Richard Cousins, and his family in a plane accident over the weekend, and said it has moved forward the date of his succession.

The appointment of the catering group's European chief operating officer, Dominic Blakemore, as chief executive was moved forward to 1 January from 1 April.

Cousins, his fiancee and three children died in a plane accident in Australia on new year's eve.

Paul Walsh, the company's Chairman, said: "We are deeply shocked and saddened by this terrible news. The thoughts of everyone at Compass are with Richard's family and friends, and we extend our deepest sympathies to them.

"It has been a great privilege to know Richard personally and to work with him for the last few years. Richard was known and respected for his great humanity and a no-nonsense style that transformed Compass into one of Britain's leading companies."

Under Cousins, shares in Compass have risen almost sevenfold from 236p to 1600p, with more than £9bn returned to shareholders through dividends and buybacks.

In September he announced his plans to step down as CEO after an 11-year stint. Last year he also stepped down from his role as a non-executive director at Tesco in objection to its proposed acquisition of Booker.