MEMPHIS, Tenn. – Hank Mullany has resigned as the CEO of ServiceMaster.
John Krenicki Jr. will serve as the company’s interim CEO, according to a press release. Krenicki is chairman of ServiceMaster Global Holdings, the parent company of ServiceMaster, and also a senior partner at the private equity firm Clayton, Dubilier and Rice.
Prior to joining CD&R, Krenicki spent 29 years with GE, where he served as the company’s vice chairman, and president and chief executive officer of its $50 billion GE Energy division.
“We appreciate Hank’s contributions and wish him continued success in the future,” said Krenicki in a press release. "We are excited about the future for ServiceMaster,” said Krenicki. “It starts with the more than 20,000 associates who passionately care about our brands and the 8 million customers we serve every year. We also have an experienced leadership team that’s motivated to deliver results.”
Mullany became ServiceMaster CEO in 2011 and oversaw the sale of its TruGreen LandCare business, which had been in the works.
But even with an increased focus on lawn care, TruGreen struggled to improve its performance. In 2012, it reported an 11 percent drop in revenue, and operated at a loss of $805 million.
A series of high-level changes at ServiceMaster and its companies have followed the lagging financial performance.
Since 2011, TruGreen has had three presidents, most recently David Alexander, who was hired in December after Tom Brackett resigned after less than a year in the post. Chuck Fallon, former president of Terminix, also resigned in March.