Terminix Announces Resignation of COO Kim Scott; Affirms Full-Year 2021 Guidance

Rhea-AI Summary

Terminix Global Holdings (NYSE: TMX) announced the resignation of Chief Operating Officer Kim Scott, who has accepted another job opportunity. As part of a strategy to streamline operations, sales, marketing, and field operations will now report directly to CEO Brett Ponton. Scott joined the company in December 2019, and her leadership was noted for enhancing customer retention and operational improvements during a challenging period.

The company will report Q3 earnings in early November and has reaffirmed its full-year 2021 guidance.

Positive

• Strategic restructuring following Kim Scott's resignation may lead to streamlined operations.
• Continued focus on growth and profitability as emphasized by CEO Brett Ponton.

Negative

• Departure of COO Kim Scott may raise concerns regarding leadership continuity and experience.

MEMPHIS, Tenn.--(BUSINESS WIRE)-- Terminix Global Holdings, Inc. (NYSE: TMX), a leading provider of residential and commercial pest management, today announced Chief Operating Officer Kim Scott has resigned after accepting another job opportunity. As a result of Kim’s departure and in a continued effort to simplify and stream-line the business, the sales, marketing, and field operations leadership will now report directly to CEO Brett Ponton.

Ms. Scott joined the Company in December of 2019 as the President of Terminix Residential. In January of 2021, she assumed the role of Chief Operating Officer and expanded her responsibilities to include the commercial business.

“Kim installed the fundamentals of customer retention, safety and labor management in Terminix and was a stabilizing presence over the last year,” said Terminix CEO Brett Ponton. “She recently consolidated the operations of our commercial and residential businesses and oversaw improvements during a challenging operating environment in 2020. I would like to thank Kim for her contributions to Terminix and wish her well in her new position.”

“I am excited to engage directly with our sales and marketing teams and experienced field leadership as we continue our efforts to create a world-class sales and service organization. Simplifying the structure will allow us to move faster to implement the key operational capabilities necessary to develop a scalable, consistent business model enabling accelerated growth and profitability. I am confident we have the right team in place to make progress on our goal to become the global leader in professional pest management.”

The Company will report its third-quarter 2021 earnings in early November and affirms full-year 2021 guidance.

About Terminix

Terminix Global Holdings (NYSE: TMX) is a leading provider of residential and commercial pest management. The Company provides pest management services and protection against termites, mosquitoes, rodents and other pests. Headquartered in Memphis, Tenn., with more than 11,400 teammates and 2.9 million customers in 24 countries and territories, the Company visits more than 50,000 homes and businesses every day. To learn more about Terminix, visit Terminix.com, or LinkedIn.com/company/terminix.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210924005528/en/

Investor Relations:

Jesse Jenkins

901.597.8259

Jesse.Jenkins@terminix.com

Media:

James Robinson

901.597.7521

James.Robinson@terminix.com

Source: Terminix Global Holdings, Inc.

FAQ

What caused the resignation of COO Kim Scott at Terminix (TMX)?

Kim Scott resigned from Terminix after accepting another job opportunity.

How will the leadership structure change after Kim Scott's departure from Terminix (TMX)?

Following Scott's resignation, sales, marketing, and field operations will report directly to CEO Brett Ponton to simplify the business structure.

What impact could Kim Scott's resignation have on Terminix (TMX)?

Her resignation may impact leadership continuity and strategic execution, though it is seen as an opportunity for streamlined operations.

When will Terminix (TMX) report its next earnings?

Terminix will report its third-quarter earnings in early November.

Has Terminix (TMX) maintained its financial guidance for 2021?

Yes, Terminix has affirmed its full-year 2021 guidance despite the recent leadership change.