MEMPHIS, Tenn. — ServiceMaster announced Nikhil Varty as its new CEO. He replaces Rob Gillete, who had been in that role since June 2013.
In a press release, Mark Tomkins, chairman of the ServiceMaster Board of Directors, commented, “We are also pleased to announce the appointment of Nikhil Varty to the role of CEO during this important time for ServiceMaster. With more than three decades of deep operational expertise and strategic leadership experience, Nik is uniquely qualified to lead ServiceMaster into the next chapter of its growth story. He has direct experience developing and executing successful global business strategies, as well as achieving record returns on investments and delivering superior shareholder value on a sustainable basis. With a background in transforming companies through building the right organization, structure and talent, the Board firmly believes that Nik is the right leader to lead ServiceMaster as it looks to execute on the next stage of its growth strategy. The entire Board looks forward to working closely with Nik and continuing on our path to become the number one choice of customers for essential services through empowered people and convenient access.”Varty is former president of the Americas and global vice president of mergers and acquisitions at WABCO.
“I am very excited to join ServiceMaster and am eager to begin working closely with the Board and management team to grow and enhance opportunities for our employees, customers and partners,” said Varty. “I am very supportive of the company’s decision to separate its businesses and believe that it is the right and necessary step at this point in time. My strategic focus will be to deliver superior results, identify levers for growth and develop the right talent, all while aiming to consistently beat expectations. I am committed to executing on the company’s strategic plan and am confident that our talented team will work together to capitalize on existing and future growth opportunities and enhance shareholder value.”
Tomkins added, “We thank Rob [Gillette] for his significant contributions and years of dedicated service to ServiceMaster and Memphis. His leadership has brought ServiceMaster to the point where we can take this transformative step in our company’s history. We wish him all the best in his future endeavors.”Gillette is expected to be available to the company on a transitional basis and to work with Varty during his remaining time at the company in order to ensure a smooth transition.
ServiceMaster also announced that it intends to “separate its American Home Shield (AHS) business from its Terminix and Franchise Services Group (FSG) businesses.” The intent is that AHS will become its own publicly traded company.