Compass Group plc has appointed a new CEO to replace Michael Bailey, the embattled executive who helped build Compass into the global presence it enjoys today. The new CEO, Richard Cousins...

will assume his position June 1 and comes to Compass from construction materials supplier BPB plc, which was sold to a larger British company last year. The London market reacted favorably to the news, rising about 4 percent when the appointment was announced on March 24.

Cousins will be faced with addressing the concerns of the London investment community, which savaged Compass stock valuations following several quarters of disappointing earnings and the disclosure that two now

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