Reaffirms 2019 guidance
MEMPHIS, Tenn.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24SERV&src=ctag” target=”_blank”gt;$SERVlt;/agt; lt;a href=”https://twitter.com/hashtag/earnings?src=hash” target=”_blank”gt;#earningslt;/agt;–ServiceMaster
Global Holdings, Inc. (NYSE: SERV), a leading provider of
essential services to residential and commercial customers in the
termite, pest control, cleaning and restoration markets, today announced
the appointment of Naren Gursahaney as Chair of the Board of Directors,
succeeding Mark Tomkins.
Mr. Gursahaney’s experience leading the execution of ADT’s
customer-centric growth strategy, as its CEO and a director following
its spin-off from Tyco, will be instrumental in helping ServiceMaster
leadership pursue its growth strategy following the spin-off of
frontdoor, inc., the parent company of American Home Shield. In
addition, Mr. Gursahaney’s experience as an independent director at
NextEra Energy, a Fortune 200 company, will be invaluable as
ServiceMaster continues to accelerate growth.
“Naren has been a valued board member and counselor to ServiceMaster,”
said Chief Executive Officer Nik Varty. “His distinguished background as
a successful leader of public companies and strong track record of
sustainable growth will be a major asset to our executive team and our
investors.”
Mr. Gursahaney was appointed to the board of directors in December 2017.
He is the former president and chief executive officer of The ADT
Corporation, a leading provider of security and automation solutions for
homes and businesses in the United States and Canada. Prior to ADT’s
separation from Tyco International Ltd. in September 2012, Gursahaney
served as president of Tyco’s ADT North American Residential business
segment and was the president of Tyco Security Solutions, then a
provider of electronic security to residential, commercial, industrial
and governmental customers and the largest operating segment of Tyco. He
currently serves on the board of directors of NextEra Energy, Inc.
Gursahaney has extensive operations, strategic planning and leadership
experience in large, global residential and commercial services.
Mr. Tomkins will remain a member of the Board of Directors and will
serve as Chair of the Audit Committee. Mr. Tomkins has served as one of
our directors since June 2015 and Chair since May 2016. He has been a
private investor since 2006. During his tenure as Chair of the Board,
Mr. Tomkins left an indelible mark on the company. His stewardship
during the Company’s executive leadership transition, the Terminix
business transformation, and the restructuring of the company through
the successful spin-off of the American Home Shield business has
positioned the company for a strong future.
Full-Year 2019 Outlook
In addition, the company reaffirms its full-year 2019 outlook. The
company continues to expect full-year 2019 revenue to range between
$2,020 and $2,050 million and Adjusted EBITDA to range between $435 and
$445 million with organic revenue growth at the Terminix segment between
2 and 3 percent for the year.
About ServiceMaster
ServiceMaster Global Holdings, Inc. is a leading provider of essential
residential and commercial services, operating through an extensive
service network of more than 8,000 company-owned locations and franchise
and license agreements. The company’s portfolio of well-recognized
brands includes AmeriSpec (home inspections), Copesan (commercial
national accounts pest management), Furniture Medic (cabinet and
furniture repair), Merry Maids (residential cleaning), ServiceMaster
Clean (janitorial), ServiceMaster Restore (disaster restoration),
Terminix (termite and pest control) and Terminix Commercial (commercial
termite and pest control). The company is headquartered in Memphis,
Tenn. Go to www.servicemaster.com
for more information about ServiceMaster or follow the company at twitter.com/ServiceMaster
or Facebook.com/ServiceMaster.
Contacts
Investor Relations:
Jesse Jenkins
901.597.8259
[email protected]
Media:
James Robinson
901.597.7521
[email protected]
