Departure of ServiceMaster Group President Surpris
Memphis, TN, December 15, 2005--Albert Cantu has left ServiceMaster after more than 20 years with the company--a less-than-amicable move that surprised industry observers, according to the Commercial Appeal.
Cantu had been group business president, responsible for American Residential Services (ARS), ServiceMaster Clean, Merry Maids and Furniture Medic.
The official announcement, which came from ServiceMaster after the markets closed, characterized the leave as a "retirement," thanking the Germantown resident and former group business president for his long service.
But Cantu, 44, says his departure was by no means a retirement, and is a process that he did not initiate nor one with which he is happy.
"I have disagreed with executive leadership over the vision and strategy of the company for some time," he said. "It is unfortunate that this disagreement has led us to this point."
Cantu declined to comment on the exact nature of the disagreement, saying he is seeking a meeting with the board of directors to discuss those differences and does not want to appear disrespectful of the company or the people who work there.
"ServiceMaster is a great company with many outstanding people that is not reaching its full potential pursuing the current vision and strategy," he said. "I believe a different vision and strategy will generate greater shareholder value both in the short and long term."
ServiceMaster did not return calls.
In the release, Jonathan Ward, ServiceMaster chairman and chief executive officer, said: "Albert leaves behind a proud legacy. He played an important role in growing the business and building the Terminix brand.
"We are grateful for Albert's hard work, leadership and dedication over the years and wish him well as he moves on to the next chapter in his life."
The departure was a surprise to Wall Street, said Matthew Litfin, an analyst with William Blair & Co., in Chicago.
"Albert was a well-respected member of the management team at ServiceMaster. Albert was considered among a handful of senior managers in the company with aspirations and potential to assume top leadership."
