Paul Walsh to step down as chairman and director of Compass

Paul Walsh is to step down as chairman and director of contract caterer Compass after six years in the role.

Walsh, who will remain in position until a successor is appointed, said he had made the decision to focus on his other business interests.

He said: "It has been a privilege to serve for the last 6 years as chairman of Compass, which is a world-class business and a true British success story on the global stage. We have a strong and well-established chief executive in place and I will work to ensure a seamless transition to my successor as chairman."

Walsh had joined Compass from Diageo, where he had been chief executive since 2000.

In November Compass Group reported a 6.4% increase to annual revenue in the year to 30 September 2019, reaching to £25.15b.

The figure was ahead of the company's target growth of 4-6% and was despite a volume weakness in UK business & industry contracts. Operating profit across the group was up by 4.7% to £1.88b.