Compass Group’s former CEO made final act of kindness
2018 started in the worst possible way for the world’s largest catering firm, Compass Group, when its popular and respected CEO, Richard Cousins, died in a plane crash with his sons. It was utterly unexpected – a life cut tragically short, at 58 – and rattled investors. Cousins was not only popular: he was effective. Many months later, the company has held up well… and news has just broken about Mr. Cousins final act – one of unbridled charity.
After a difficult start to the year, Compass Group has performed well
SOURCE: Yahoo Finance
Cousins presided over Compass Group for over a decade, more-than doubling the company’s market cap, and receiving widespread acclaim. He announced that he was standing down just a few months before the crash that ended his life. Dominic Blakemore, Compass’s former chief operating officer, stepped into the role Mr. Cousins left behind – and he seems to be a safe pair of hands.
However, recent reports have shone a light on what Mr. Cousins decided to do with the fortune he amassed in his years at the top of Compass. According to The Sun, his will specifies that £41 million will go to the charity Oxfam. This is the vast majority of his wealth – his brothers will receive £1 million each.
An act of extreme generosity, Cousins’ final donation is a fitting exit for a man who put Compass Group on the path back to growth, and enriched investors’ stakes in the company significantly. A spokesperson for Oxfam said: “We are extremely grateful for this bequest of which we have only recently been notified. We are working with the family and our board of trustees to identify how the money will be used.”
Dominion holds Compass Group in its Global Trends Managed Fund.
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