This weekend, Sysco announced that Tom Bené, Sysco’s current President and CEO, has been elected Chairman of the Board. Effective November 16, 2018, Bené will assume those additional responsibilities while, in alignment with Sysco’s Board of Directors’ tenure policy, Jackie M. Ward—the current Chairman—will retire. Ward served on the Board for more than 17 years, the last five years as non-executive Chairman.
“I am honored to be chosen to serve as Chairman of Sysco’s board and, on behalf of the Board of Directors and everyone at Sysco, I would like to thank and recognize Jackie for her many years of leadership and contributions to Sysco,” said Bené in a press release. “Sysco has an industry-leading position with solid fundamentals and a clear focus on driving performance and delivering disciplined, profitable, and sustainable growth. I look forward to continuing to work with the board and management team to enhance value for all Sysco associates and shareholders.”
The company noted in its press release that Bené joined Sysco in 2013 and subsequently has held a variety of roles at the company before being appointed President and CEO.
During his time at Sysco, Bené has been responsible for overseeing all of Sysco’s business operations, commercial functions, and supply chain organization. Prior to joining Sysco, Bené held a variety of positions of increasing responsibility in marketing, sales, operations, franchise development, and general management during a 23-year career at PepsiCo, which culminated in his role as President of PepsiCo Foodservice.
“It has been a privilege to help contribute to Sysco’s significant growth alongside our talented associates, management team and fellow directors, as we strengthened the company’s position as the global foodservice leader,” said Ward.
Ward’s retirement is part of Sysco’s board succession plan and will be effective on November 16, 2018, immediately following Sysco’s 2018 Annual Meeting of Stockholders.
“After careful deliberation, and taking into account his record of success to date in driving Sysco to achieve its strategic objectives, the board determined that naming Tom to succeed Jackie as chairman was in the best interest of the company and its shareholders,” said Larry Glasscock, Sysco Director and Chair of the Corporate Governance and Nominating Committee. “We are confident that Sysco is well-positioned under Tom’s leadership for continued success and value creation.”
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