Rentokil nabs Parcel Force FD

RENTOKIL INITIAL has recruited former Royal Mail executive Robert Peto as the finance director of its parcel delivery unit.

Peto will take over as FD of City Link, the pest control company's parcel delivery arm. He was most recently finance director of Royal Mail owned ParcelForce where he was key to its turnaround. He has held several senior finance positions since he joined the business in 2003 including FD of ParcelForce Worldwide, group FD and financial controller.

Prior to joining Parcelforce, Peto worked at Geopost for nine years where his roles included financial controller and management accountant for Parceline.

The FTSE100 business Rentokil sparked industry-wide debate about auditor independence when it switched its auditor to KPMG from PwC in July 2008.

KPMG controversially won the audit by reducing the pest control business' audit costs about 30% by fulfilling external audit functions while performing tasks usually performed by internal auditors.

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