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In Good Company with Nicolai Tangen

Rentokil Initial CEO: Pest Control, AI and dealmaking

In Good Company with Nicolai Tangen

Norges Bank Investment Management

In Good Company, Business, Norges Bank, Nicolai Tangen

4.8186 Ratings

🗓️ 7 February 2024

⏱️ 37 minutes

🧾️ Download transcript

Summary

In this episode, we delve into the world of pest control with Andy Ransom, CEO of Rentokil. Andy has steered Rentokil to become a global leader in pest control. We'll explore how climate change is reshaping pest control across the world and the unique challenges facing the industry. Plus, don't miss Andy sharing his craziest pest control story. Join us for an insightful discussion that goes beyond just bugs and rats.


The production team on this episode were PLAN-B's Pål Huuse and Niklas Figenschau Johansen. Background research was done by Sigurd Brekke with input from portfolio manager Arnab Seal and Abhishek Rathod.


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Hosted on Acast. See acast.com/privacy for more information.

Transcript

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0:00.0

Hi everybody. Our special guest today is Andy Ransom, the CEO of Rentakil.

0:06.2

Since ancient times, we've been using different ways to control pests, but now we are using special cameras, drones and AI.

0:13.9

In this conversation, Andy touches on the importance of people, how to make good deals, and some of the new technologies that he uses to combat pests

0:22.4

across the world. We own more than 2% of the company, equivalent to 4 billion-groner or nearly

0:27.4

1,000 grano per Norwegian. Tune in. Now, many people have memorable stories about pest-related stories, whether it's removing, you know, ants, rats, alligators even from pools.

0:49.4

So, Andy, let's kick off. What's kind of the crazy story you have?

0:53.7

Oh, my word. Well,

0:55.2

hi, Nick Lai. Thanks for inviting me along. Um, I mean, we could probably spend the next hour

1:00.4

talking about crazy pest control stories. Well, that's what we're going to do. That's what we're

1:04.7

going to do. That's what we're going to do. Is it okay. Well, you know, where to start. I mean, we were hired by Libya to go and deal with bubonic plague. That was a bit of a

1:13.6

surprise. We've done some work in Australia with mouse plagues where we had millions, millions of

1:20.6

mice to deal with. We've had monkeys in Singapore. We've had camels. We've had the deal with

1:27.2

in the Middle East. I mean, you name

1:28.8

it snakes and everything. It's a crazy business in that sense. As you say, everyone's got a

1:36.1

pest control story. And my wife always tells a pest control story about me when we were living

1:43.4

in America and I was I was doing the

1:45.8

garden one day and I disturbed a nest of yellow jackets or wasps as we would call them and one of

1:52.9

them stung me and stung me in the neck and I ran like a scared kid and I ran to the house,

1:58.9

opened the door, I then closed the door and I locked it.

2:02.8

And my wife was saying, what on earth are you doing?

2:05.9

You know, why do you close the door?

2:07.5

Are you expecting them to come in through the door?

...

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