This article is from the source 'nytimes' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.nytimes.com/2018/01/01/business/sydney-compass-richard-cousins.html
The article has changed 5 times. There is an RSS feed of changes available.
| Version 3 | Version 4 |
|---|---|
| Chief of Compass, U.K. Catering Giant, Is Killed in Plane Crash | Chief of Compass, U.K. Catering Giant, Is Killed in Plane Crash |
| (about 1 hour later) | |
| The chief executive of the world’s biggest catering company, which is also one of Britain’s biggest businesses, died on Sunday in a plane crash near Sydney, the Australian police said. | The chief executive of the world’s biggest catering company, which is also one of Britain’s biggest businesses, died on Sunday in a plane crash near Sydney, the Australian police said. |
| Richard Cousins, the chief executive of Compass Group, was among the six people killed when a seaplane went down off Jerusalem Bay, just north of Sydney, according to a statement from the New South Wales police. Police representatives confirmed that those who died were Mr. Cousins, his two sons, his fiancée, her daughter and the pilot of the plane. The cause of the crash was being investigated. | Richard Cousins, the chief executive of Compass Group, was among the six people killed when a seaplane went down off Jerusalem Bay, just north of Sydney, according to a statement from the New South Wales police. Police representatives confirmed that those who died were Mr. Cousins, his two sons, his fiancée, her daughter and the pilot of the plane. The cause of the crash was being investigated. |
| Mr. Cousins, 58, led Compass for more than 11 years. The company employs more than 550,000 people worldwide, providing food for a wide range of organizations including Costco, Qualcomm, the University of Houston and the stadium that houses the Utah Jazz basketball team. | Mr. Cousins, 58, led Compass for more than 11 years. The company employs more than 550,000 people worldwide, providing food for a wide range of organizations including Costco, Qualcomm, the University of Houston and the stadium that houses the Utah Jazz basketball team. |
| “We are deeply shocked and saddened by this terrible news,” Paul Walsh, the company’s chairman, said in a statement. “It has been a great privilege to know Richard personally and to work with him for the last few years. Richard was known and respected for his great humanity and a no-nonsense style that transformed Compass into one of Britain’s leading companies.” | “We are deeply shocked and saddened by this terrible news,” Paul Walsh, the company’s chairman, said in a statement. “It has been a great privilege to know Richard personally and to work with him for the last few years. Richard was known and respected for his great humanity and a no-nonsense style that transformed Compass into one of Britain’s leading companies.” |
| Police said they were working with officials from Australia’s Transport Safety Bureau, which investigates transport accidents in the country. The Reuters news agency said that a preliminary report was expected within 30 days, but that it could take as long as a year to find out what had caused the crash. | Police said they were working with officials from Australia’s Transport Safety Bureau, which investigates transport accidents in the country. The Reuters news agency said that a preliminary report was expected within 30 days, but that it could take as long as a year to find out what had caused the crash. |
| The flight was part of a trip conducted by Sydney Seaplanes, which has five aircraft transporting passengers on scenic trips above the Australian city, often to waterfront restaurants. The pilot, Gareth Morgan, had more than 10,000 hours of flight experience, the vast majority of which was on seaplanes, Aaron Shaw, the company’s managing director, said in a statement. | |
| Sydney Seaplanes, which said it had not had any safety incidents since it started operating in 2005, suspended all its operations until further notice. | |
| Mr. Cousins had been expected to leave Compass at the end of March. His planned successor as chief executive, Dominic Blakemore, the company’s chief operating officer for Europe, will take over immediately, Compass said. | Mr. Cousins had been expected to leave Compass at the end of March. His planned successor as chief executive, Dominic Blakemore, the company’s chief operating officer for Europe, will take over immediately, Compass said. |
| When Mr. Cousins took the helm of the company, it was mired in a corruption scandal, accused of bribing a United Nations official to garner contracts to supply peacekeepers. Settling lawsuits and ending investigations tied to the allegations cost the company 39 million pounds, it said in its 2007 annual report, around $53 million at current exchange rates. | When Mr. Cousins took the helm of the company, it was mired in a corruption scandal, accused of bribing a United Nations official to garner contracts to supply peacekeepers. Settling lawsuits and ending investigations tied to the allegations cost the company 39 million pounds, it said in its 2007 annual report, around $53 million at current exchange rates. |
| During his time as chief executive, Mr. Cousins increased the size of the company. Revenue more than doubled, and operating profit increased fourfold. The company’s share price has increased by more than six times since he took over, to £16, or about $21.60, a share. Last year, The Harvard Business Review named him the 11th-best performing chief executive in the world. | During his time as chief executive, Mr. Cousins increased the size of the company. Revenue more than doubled, and operating profit increased fourfold. The company’s share price has increased by more than six times since he took over, to £16, or about $21.60, a share. Last year, The Harvard Business Review named him the 11th-best performing chief executive in the world. |
| Compass had full-year revenue of £22.9 billion and profit of £1.7 billion in the most recent financial year, which ended in September. | Compass had full-year revenue of £22.9 billion and profit of £1.7 billion in the most recent financial year, which ended in September. |
| Compass says it holds 10 percent of the global food services market, operating across 50 countries. The company said in its most recent annual report that it served more than 5.5 billion meals a year. | Compass says it holds 10 percent of the global food services market, operating across 50 countries. The company said in its most recent annual report that it served more than 5.5 billion meals a year. |