VOL. 132 | NO. 197 | Wednesday, October 4, 2017
ServiceMaster Appoints Persson To Lead American Home Shield Spinoff
By Bill Dries
The ServiceMaster spinoff of American Home Shield will be overseen by a former Ingersoll Rand executive with experience in corporate spinoffs and their development
Dion Persson has been appointed senior vice president of business development for ServiceMaster Global Holdings, the Memphis-based provider of residential and commercial services, the company announced on Monday, Oct. 2.
At Ingersoll Rand, Persson led the home automation division and was instrumental in the spinoff of its Allegion plc mechanical security division as a public company that was completed in late 2013.
ServiceMaster announced the spinoff of American Home Shield, its home warranty division, in July as it changed CEOs – going from Rob Gillette to Nik Varty. Varty’s goal is to complete the spinoff of AHS by the third quarter of 2018 as a publicly traded company with its headquarters in Memphis.
Gillette oversaw the spinoff of TruGreen from ServiceMaster in 2014 in a realignment of the company that put ServiceMaster’s five different franchising operations and brands under the heading of a Franchise Services Group.
Varty became CEO as ServiceMaster’s Terminix division continued to struggle. And in his first earnings call with investors and analysts in August, Varty said fixing Terminix is his first priority.
In that same earnings report, ServiceMaster reported 8 percent growth in revenue from a year ago, led by 15 percent growth at American Home Shield.