You don't run a business like that for as long as you have but he's warm and endearing so I'm glad that he stepped in for a chat with us. I'm not familiar with indemnification claims. There are OSHA requirements in addition to the fact that someone could get hurt and you could never walk by a safety issue. To this day, Vic remains close to your organization. I'm not taking this from the standpoint of like, What do acquirers look for in regard to targets to make an acquisition? How would you think about that business from the CEOs perspective if you're running the $5 million shop? Some other day.. Its a different business environment to where I am today where there are 19,000, depending on who's counting, pest control providers. The second thing is because North America is important to the global business, we do get our fair share of ex-pats to come over for 2 to 3 years to learn another part of the business, another way of doing business, and then they go back. What makes Rentokil attractive compared to some of the others out there? If it was residential, you'd probably take three years to transition it., There are always exceptions to the rule. The pillar scores are Audit: 1; Board: 2; Shareholder Rights: 1; Compensation: 5. I had Vis--vised everything that I had done historically around the globe., Over time, when about Rentokil versus Orokin versus Terminix versus Anticimex, for example, as the M&A market has continued to heat up in years, all of these players had to get more sophisticated. Once again, a big transition. Is it the same in the UK? I joked in the interview that the last time I saw him he and I were talking about the fact that I was surprised that he's still around because it's not uncommon for chief executives to head off to other businesses.. If I'm saying that managers should only manage 9 people and a guy's got 16, how's that likely to turn out?, I'm giving you maybe not the level of detail you want on KPIs but the point is we then decide if this is the solution, how do we measure success? You and I talked about the Brandon Hier episode, which we wanted to do. Fast and chaotically means not profitably. John Myers: I tried to negotiate around the edges but it wasn't much there. If you think about it kind of logically, you're running your business, you get a new residential pest control customer, that customer probably has some problems, so it's more expensive to do the cleanout. We're careful to make sure that we're not going in too fast and saying, X, Y, and Z. I could keep going.. It's 3 or 4 of us making you a commodity mostly selling to the largest bottlers in the world, a commodity with strong buying power. I can't think of any. By reinforcing the message from the top level, it does those things better than just hoping it happens." . John's been around. Pest Control is local. I'm an incredible brochure writer. He reset the expectations and said, You can do more outside of our company than you can do inside of our company. It was a great piece of recommendation for me. Don't worry about the job and the title. The second thing is we're in growth mode. He sent me a letter. The buying motives and the value proposition you're trying to create are the same even though there might be some nuances to culture. Other OTC - Other OTC Delayed Price. Patrick Baldwin: I appreciate that. John Myers: Thanks for asking that question. Listening to him talk about Cintas reminded me of Jarl talking about Securitas and Loomis, the certain aspects of their model that he was able to bring to Rentokil North America. When we get several folks that come over for 2 to 3-year assignments, it's amazing the quality of decision-making we have. They come back. My gut tells me Rentokil is somewhat of a hybrid. At least historically, John Myers and John Wilson and all these guys have proved to me that if Ive got a problem a year from now, I can likely call Johns cell phone number and he's going to pick it up and say, What's the problem? Patrick Baldwin: At least it was a polite letter. It was almost like what Nucor is to the steel industry. Paul, have you ever looked at revenue per mile? More revenue per hour helps you to be able to support some of the other spendings you want to make on marketing and the like. John has a diverse business background, with extensive sales, marketing and business strategy experience. I got to understand what they think about our organization, what they think about our competitors, what they think about our people. What was that like? Paul Giannamore: I never get hung up on this whole brand issue. I'm getting an offer letter. We're behind. Career progression is very much available. I was with the Head of HR and were talking about my assignment and he said, We're trying to figure out what it should be but I have a question for you. I said, What? He said, You have a daughter, right? I said, Yeah. in marketing, University of Vermont; MBA, Mercer University, Atlanta campus. As a serial acquirer, John goes into sales mode to describe their differentiated capabilities, including a very deliberate and choreographed due diligence process. They always want to live in Phoenix, Redding, Pennsylvania, or whatever. I've known Jim forever. Twelve years later, he's adapted to a new way of thinking and doing things. Do you remember my Atlanta story? As you get bigger and bigger, you get some knucklehead moves so then you've got to, first of all, tighten how you hire, train, and develop those people. John opens up about fear of failure, a trait he shares with Rentokil Initial CEO Andy Ransom. He sent me to your boss, Mr. Andy Ransom. He had some subject matter experts that he pulled on. Lamentamos pelo inconveniente. I bet you dont think about that often. Its 0.1% or something like that. One, because I was the sales and marketing guy for so many years, I'm not afraid to do it., Paul Giannamore: You like the thrill of the hunt., John Myers: I do. You grew up in Connecticut. You're genuine and candid. I warned you that sales guys like to talk but there are some items in here that you heard that I'm passionate about. You've said something about command and control of Rollins, haven't you? You're explaining to the potential seller, Why choose Rentokil? What are those differentiated capabilities? https://www.rentokil-initial.com Sector (s) : Industrials Industry : Specialty Business Services Full Time Employees : 58,600 Key Executives Amounts are as of December 31, 2022 and compensation. How the heck did you get to where you are today running up a North American business pushing $1.5 billion in revenue?. He had previous experience at Cintas for eight years. To a large degree, Rollins has a portfolio of independent brands. Your number one or you should be out also is sector-specific. I didnt know it was a scar that picks on daily. Its in case there's some altercation. It wasn't a pest control business for the most part. If he's not ready, if it terrifies him, if he goes home and he thinks, My career is over because I was a doofus, I don't want any of those things. Its a great idea, they said. These CEOs who run these billion-dollar organizations do get out in the field and do ride alongs. If my mom said she wanted a pine tree planted in the back, my dad us three boys would get shovels and we started digging holes to put the tree in. Every job is posted and we're happy to have people move around., Patrick Baldwin: Are you looking for that from people that are flexible and where they move?, John Myers: I'm a dinosaur in that. Kyle has done a great job. Patrick Baldwin: At M&A, you go into sales mode for lack of a better term. Visit PayScale to research Rentokil salaries, bonuses, reviews, benefits, and more! Why is that important? We now have a set of rules. Rentokil Initial salaries: How much does Rentokil Initial pay? You do 7 or 8 acquisitions and you plop them right into Modern, change their name and grow it that way. John Myers: Every once in a while, we'll be in a long discussion about something. Mosquitoes are a form of pest control. Sellers always have questions about it. I'm doing deals in pest control. Its hard to understand and formulate a strategy around grading value if you're not getting that direct feedback. Although, youre pushing $1.5 billion. Step into The Boardroom to find out. In your long history of deals, you maybe have had 1 out of 150-plus deals. Now you're going to be pushing $1.5 billion in revenue. Paul Giannamore: In the United States, you can have one specialist choosing five different wage and hour jurisdictions in one day. Thats why I was curious when I asked John the question. Rentokil does a great job from a DD perspective to mitigate those types of things and they do raise them. It does take a few good listening skills as you might imagine. You're not going to get flipped upside down routinely about how we've changed all our strategies. others are doing that? Eventually, you have to sell it through the organization so that the strategy becomes the organization's strategy rather than mine., John Myers: They said, It seems like you're a pretty decent sales guy in Ohio. We did whatever the stuff was that you did. Paul Giannamore: He should record himself doing it and have his guys play it. 10% of the jobs that we fill are filled outside of the market for one reason or another. What we wanted to do is follow our structure, which is we think an operations manager, which is the person that manages specialists, should have X specialists to one manager. John Myers: Every time I back into the spot my wife goes, Really? You're $5 million, $15 million, $50 million, or whatever. The reason why our deals typically work out, Paul, is they fit the way we're thinking about things. If we can grow 12 to 14 between the two of those let's say every year, I don't know when we'll be at number 2 or 1 but the shareholders will be happy during that time period., Patrick Baldwin: Paul will be happy with any more acquisitions that you do., John Myers: We're going to have to take our vitamins based upon how active Paul's made us over the past couple of months.. Aydanos a proteger Glassdoor y demustranos que eres una persona real. I'll preface it by saying Chuck Tindall still works for us. If you're doing a job and you feel you're not doing it well, it's not satisfying and engaging. Allgood was a great acquisition for us. Lets keep this short and sweet. We call them specialists but the industry calls them technicians. He is a graduate of the University of Vermont where he earned a Bachelors degree in Business Administration. Every one of our jobs internally is posted for people to apply., We only have two requirements. That's an entirely separate episode on customer retention measurements. The reason I bring that up is when there's an opportunity that fits your career interests and you say yes, it's going to make you a better businessman and maybe even a better person because you have to adapt yourself to new surroundings. John Myers: There are a couple of things that come to mind right away. He also holds an MBA from Mercer University in Atlanta. Rentokil Initial plc was founded in 1903 and is headquartered in Camberley, the United Kingdom. Advertisements. Can you send Jim out? We talk a lot about the methodology for being successful. It's a big underdog. Were fear-of-failure guys. Theres a tremendous amount of learnings associated with that as you might imagine. What qualitative and quantitative data do you like to have in your hands to understand how you're running your business? It's not 1%. Paul Giannamore: John, how old were you when you took over the manufacturing facility? I'm always in a space where I'm worried about failure. Eventually, after seven hours, no one can do that. I won't get into the name of the company. I do have one more to add to the list. We worry about having the wrong answer or even when we have the right answer, the failure to implement well. In those days, American Can was the big one. The in-car telematics for safety, for example, we've wanted those. How does John talk about their relationship between flagship Rentokil NA and HQ in London? Paul Giannamore: Are you saying that hes doing a shabby job, Patrick? He's been in the trenches over the years. Didn't I tell you many years ago that Texas hasn't been an extremely consolidating market? I thought about things that could get out of whack. If we bought a company in Dallas and was 100% commercial, it would be transitioned probably 12 to 18 months to Presto-X. Paul Giannamore: First off, get the relevant data and understand the cause and effect behind it. With Rentokil North America, its using Ehrlich as a residential brand. As a result, you make decisions. Vic would stay on for three years and make sure the transition went well. This sounds negative but hopefully, it's not. Further, the company installs and services interior and exterior plant displays, flowers, replica foliage, Christmas decorations, and ambient scenting for commercial businesses; offers property care services consisting of damp proofing, property conservation, and woodworm and wood rot treatment; and provides a range of specialist cleaning services, such as deep cleaning of kitchens and washrooms, trauma cleaning, and flood or fire damage cleaning, as well as graffiti removal, specialist deep cleaning, and disinfection services, including the professional and discreet disinfection of areas that have been exposed to bio-hazardous situations, such as crime and trauma scenes, prison cells, void properties, emergency vehicles, and healthcare establishments. The job was posting and he was good at what he did and the like. Like anybody else, I get pulled into some meetings about internal audits., John Myers: Safety is a little different because that's part of our culture but you get the idea. Its a little bit easier. If I remember, you came on board and there was a transitionary period where Vic handed it off to you. They seem to have a way to get accident rates down. You will be redirected once the validation is complete. John Myers is a Managing Director, North America of Rentokil Initial PLC. Their training program was different from ours. I'm going to win the job because Im the best in that role. The feedback we were getting was they wanted to move faster. The next thing you know, you're riding in a truck unannounced., John Myers: No. I said, It's black. With facts, they've allowed me to change my mind. It was great. You can go up to the door and say, I want to buy your house. The guy says, It's not for sale. You say, I'll make you an offer you can't refuse. Its that whole thing. You already had some good prerequisites going to the UK. I have nothing but respect for those guys. John Myers: I was 29. The Potomac Pest Control Group is a division of The Potomac Company, a global mergers & acquisitions and strategy consulting firm. One of the town hall questions they say to me is, Tell me about the next big deal. Of course, I say, I can't because it's confidential. I always say to them, This is how we think about acquisitions, they have to be for sale. It's okay that you talk to someone that's not for sale but until they're ready to sell, there's no sense in asking for the business., It's like if you're walking on a beach and every time you walk on the beach, you look at the white house that you've always wanted. Everyone reading now in Texas, call Paul. Once again, thats pest control in our customers yards. Does each of the individual businesses retain their own culture?, What we heard from Brandon is that they did a good job and allowed his business to retain its own unique culture, but layered on Rentokil North America type, policies procedures. This process is automatic. los inconvenientes que esto te pueda causar. We were getting feedback from the Allgood leadership team that the uncertainty of their future role was becoming debilitating, which is pretty unusual. John Myers, CEO of Rentokil North America: On Growing a $1.5 Billion My head of sales and marketing lives in Memphis. You want to be better, Im sure., John Myers: First of all, I didn't take it as a shot at all because it's an amazingly good place to be. John Myers is a Managing Director, North America of Rentokil Initial PLC. You go into the Seattle market, and you buy a $2 million player, a $4 million player, and a $5 million player and you jam it all together, it makes sense to have a consistent brand there. If you look at your specialist/technician retention rates and you decide that they're not high, you could say it's because we're not paying enough. Like a lot of people, I used to get my fair share of calls. Rollins, for example, has always been reasonable. They had aspirations to make North America big. One last thing on route density. Years ago, I had a client who was sophisticated with the use of technology and had a business with around 10,000 customers. When the company that I was working for was bought by someone else, I had to go, This is not like a career here, right?, Paul Giannamore: I don't plan to be on a plant forever. Some people are extremely hell-bent on investigating the acquirers. John Myers in Wyomissing PA - President for Rentokil North America, Inc. As I got experienced, I was more confident in my ability to recognize that you should have that criteria and cadence for solving problems. Are they wearing the right masks? Hes made his way up the ranks in the pest industry but David Johnson finds himself falling into plumbing of all places. This is a kid that didn't want to be part of a big company. What problem are we trying to solve here? We've morphed into opinions, beliefs, and stuff. I didn't know if that was a leave-over so to speak from your prior career of being a biz dev guy or if you looked at it from a CEO perspective and thought to yourself, I got to be out there with these customers. Let's shut this piece of equipment down and change out the tool or whatever that thing is., What $1 million, $2 million, $5 million companies have to do out there is they have to provide these training mechanisms to allow people to do the right thing when no one's around. John scaled a regional pest control company to a national empire, and he's . There's continuity and discussion. We all need a strong Terminix. Rentokil Initial plcs ISS Governance QualityScore as of April 1, 2023 is 1. Paul Giannamore: I do stuff all over the place. What does that do? We own them as pest control providers and we've got a lawn care company killing mosquitoes. We took that model where we had an overlap of Ehrlich managers. I got the polite no, the Southern no. One of the things that we talk about a lot is hiring, training, and development of people., If you get those three things right, in our business, not the factory floor where you have a widget maker and the guy that has the best widget maker wins but the company where it's about the people that affect your mechanism for the service delivery. We've all got DNG sprayers. John Myers, CEO of Rentokil North America: On Growing a $1.5 Billion Pest Control Business: With Patrick Baldwin, Paul Giannamore. I'm thinking in terms of competition. He was bright and driven with a record of taking a company from X to a public company. 500 Spring Ridge Dr Reading, PA 19610 7600 Little Ave Charlotte, NC 28226 PO Box 13848 Reading, PA 19612 1125 Berkshire Blvd Reading, PA 19610 1000 S Labarre Rd Metairie, LA 70001 500 Spring Ridge Dr Wyomissing, PA 19610 1125 Berkshire Blvd Wyomissing, PA 19610. Ci With Jack Welch, a lot of the stuff that he put together was meant to be considered as a common denominator way of thinking, 20/80, 10/20/70, and the like. As I had high hopes for Nick, I have high hopes for Brett and I wish him the best of luck there with that organization. Do people think differently? These are businesses that have been around for a long time and have a lot of brand equity in the market and are of a size. I take criticism pretty well. I remember that he was big on being number one in a sector and you're number three and I love the underdog story.
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