FIVE
Misleading Experiences
IN THE 1980S AND 1990S, Sir Clive Thompson was chief executive of one of the most successful companies in Europe: Rentokil. Thompson was lauded—nominated as the best CEO in Britain on more than one occasion—and Rentokil had been voted the United Kingdom’s best-run company.
Thompson created a uniquely disciplined, yet entrepreneurial culture at Rentokil and focused on markets, such as pest control and office plants, where there were opportunities to earn exceptional margins. He became known as Mr. 20 Percent: the man who succeeded in delivering annual profit increases of 20 percent every year.
By the early 1990s, Thompson had been in charge of Rentokil for more than ten years. Growth had come from a relentless combination ...
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