Hank Mullany is out after two years as CEO. John Krenicki, chairman of ServiceMaster Global Holdings Inc., steps in as Interim CEO.
MEMPHIS, Tenn. — The ServiceMaster Company announced John Krenicki, Jr., will serve as the company’s interim CEO while it searches for a successor to Hank Mullany, who resigned on April 12.
Krenicki joined the company earlier this year as chairman of ServiceMaster Global Holdings, Inc., the parent company of ServiceMaster, and a senior partner at the private equity firm Clayton, Dubilier & Rice. CD&R was among the equity sponsors that acquired ServiceMaster in 2007. The company said there’s no specific timetable for hiring a new CEO; Krenicki will serve in the dual roles of chairman and CEO while the search is conducted.
“We appreciate Hank’s contributions and wish him continued success in the future,” said Krenicki.
Prior to joining CD&R, Krenicki spent a highly successful 29-year career with GE, where he served as the company’s vice chairman, and president and chief executive officer of its $50 billion GE Energy division.
“We are excited about the future for ServiceMaster,” said Krenicki. “It starts with the more than 20,000 associates who passionately care about our brands and the 8 million customers we serve every year. We also have an experienced leadership team that’s motivated to deliver results.”
Mullany became Servicemaster CEO in March 201, after serving as executive vice president of Walmart U.S. His tenure was marked by efforts to turn around ServiceMaster’s struggling TruGreen lawn care business. According to the Memphis Daily News, one of Mullany’s first actions was to follow through on the plans of his successor, Patrick Spainhour, to sell off the TruGreen LandCare commercial landscaping business. Mullany followed that by replacing the TruGreen head with Tom Brackett from the Terminix division. Mullany wanted Brackett to apply Terminix practices to give TruGreen more consistency and standardization. Brackett’s tenure at TruGreen was short-lived, however, as he resigned as TruGreen President after less than one year.
Additional source: Memphis Daily News