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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/rentokil-ceo-takes-city-link-helm.jpg"><img class="alignnone size-full" title="The chief of Rentokil Initial's parcel service firm City Link has quit amid trading woes" src="http://londonglossy.com/wp-content/uploads/2010/12/min-rentokil-ceo-takes-city-link-helm.jpg" alt="The chief of Rentokil Initial's parcel service firm City Link has quit amid trading woes"/></a></p>
<p>Rentokil Initial has said the boss of its troubled parcel delivery service City Link had stepped down amid ongoing trading woes at the division.</p>
<p>City Link managing director Stuart Godman resigned by &#8220;mutual agreement&#8221; and Rentokil chief executive Alan Brown has taken over the running of the embattled company until a replacement is appointed.</p>
<p>Rentokil said difficult trading conditions meant City Link&#8217;s performance in 2010 was unlikely to improve on the previous year, when it made adjusted operating losses of £2.7 million.</p>
<p>The news suggests a worsened performance for City Link in the final quarter of the year.</p>
<p>It narrowed its operating losses by £2.3 million to £4.7 million in the first half and reported operating losses of £1.3 million in the third quarter, which were the same as last year.</p>
<p>City Link last month admitted it had gone too far in closing depots and cutting staff and had been forced to outsource work to more expensive third party firms.</p>
<p>Service levels had remained excellent in the period, apart from in the past two weeks which had been affected by the snowy weather, it said </p>
<p>However, Rentokil said its profits expectations for the year remain unchanged as the rest of the group, which includes pest control and washroom services, compensates for City Link&#8217;s losses.</p>
<p>Rentokil&#8217;s shares were down by 1% following the announcement.</p>
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