SIR Clive Thompson, the Kent businessman dubbed Mr 20 Per Cent, has been booted out as chairman of Rentokil Initial.

The shock move caused the company's shares to plunge 14 per cent.

Sir Clive, who lives near Sevenoaks, was widely admired as a captain of captains of British industry. He was an outspoken and controversial president of the CBI.

He built Rentokil into a world leading company, earning his nickname by achieving his 20 per cent target 16 out of 17 times in the 1980s and 1990s.

During his two years as CBI president, Sir Clive, 61, was a regular guest at Kent business events.

But Sir Clive was been blamed for Rentokil's declining profitability amid claims that he was responsible for company "paralysis."

His successor Brian McGowan said the company had been increasingly run on a short-term basis.

In a statement, the board said: "With the successful development of a new management team since Sir Clive Thompson became chairman in 2002, following 20 successful years as chief executive, this is an opportune time for a change.

"The board also believes that a new chairman will be best able to help management respond to the long-term challenges of the current business environment in order to return the company to strong profitable growth."

Sir Clive joined Rentokil as a director in 1982. He was chief executive from 1983 to 2003 and chairman from May 2002.

He is also chairman of Kleeneze, a former director of J Sainsbury, Wellcome, BAT Industries, Seeboard and Caradon. He is also a former deputy chairman of the Financial Reporting Council and member of the Committee on Corporate Governance.