Cousins to head Compass.The executive who led the defence of plasterboard maker BPB BPB Bundeszentrale für Politische Bildung (Federal Agency for Civic Education, Bonn, Germany) BPB BIOS Parameter Block BPB British Plaster Board BPB Belt Positioning Booster (seat) against a hostile takeover Hostile Takeover A takeover attempt that is strongly resisted by the target firm. Notes: Hostile takeovers are usually bad news, as the employee moral of the target firm can quickly turn to animosity against the acquiring firm. bid has been named as the new boss of troubled catering giant Compass. Richard Cousins will pick up pounds 750,000 a year for his first role since BPB ditched its opposition to a takeover by French glass maker Saint Gobain For the company, see . Saint Gobain (died 670), also known as Goban, was an Irish Benedictine monk and spiritual student of Saint Fursey at Burgh Castle, Norfolk, England. Born in Ireland. and agreed to a pounds 3.9bn deal in December. The 46-year-old will replace Mike Bailey as chief executive at the start of June, with Compass hoping to use his restructuring skills after pounds 100m of costs were eliminated at BPB during his five years in charge. Compass, which provides catering services at several North schools, has been battling to restore its reputation after a profits warning caused by weaker margins on UK school meal contracts and poor summer trading in Europe wiped off a quarter of the value of its shares. Compass has also been embroiled in an inquiry by US authorities into how UN contracts are awarded. |
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