Bill Delaney Assumes Responsibilities and Title of President in Addition to Serving as CEO
HOUSTON, Feb 5, 2010 (GlobeNewswire via COMTEX) -- Sysco Corporation (NYSE:SYY) announced today that Kenneth F. Spitler, 60, Sysco's vice-chairman, president, and chief operating officer, has announced his plan to retire effective June 28, 2010. Bill DeLaney, Sysco's chief executive officer, has assumed the additional title and responsibilities of president, effective immediately.
"It is impossible to adequately express our gratitude for Ken's service to Sysco," said Bill DeLaney, Sysco's president and chief executive officer. "Sysco's continuous operational improvements, especially throughout the recent difficult business environment, were accelerated by Ken's leadership throughout his 24 year career at Sysco."
"I've had the honor of leading the foodservice industry's best operators," said Ken Spitler."The foundation they have built by delivering 40 years of continuous improvement, and their continuing commitment to our customers' success, will serve Sysco well for the next 40 years."
"Since his promotion last year, Bill DeLaney has proven his capabilities and has benefited from Ken's assistance during this transition." said Manny Fernandez, Sysco's non-executive chairman of the board. "The board is pleased that its succession plan has been successful and believes that Sysco's best years are ahead of it with Bill DeLaney at the helm."
About Sysco
Sysco is the global leader in selling, marketing and distributing food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepare meals away from home. Its family of products also includes equipment and supplies for the foodservice and hospitality industries. The company operates 186 distribution facilities serving approximately 400,000 customers. For the fiscal year 2009 that ended June 27, 2009, the company generated more than $36 billion in sales. For more information about Sysco visit the company's Internet home page at www.sysco.com.
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Forward-Looking Statements
Certain statements made herein are forward-looking statements under the Private Securities Litigation Reform Act of 1995. They include statements regarding Sysco's future performance. These statements involve risks and uncertainties and are based on management's current expectations and estimates; actual results may differ materially. Those risks and uncertainties that could impact Sysco's future performance include risks relating to sensitivity to general economic conditions, including the current economic environment, decreases in consumer spending and inflation and deflation risks; the risk of interruption of supplies due to lack of long-term contracts, severe weather, work stoppages or otherwise; labor issues; risks related to the implementation and success of our business transformation project; and the timing and successful completion of acquisitions. For a discussion of additional factors impacting Sysco's business, see the Company's Annual Report on Form 10-K for the year ended June 27, 2009 as filed with the Securities and Exchange Commission.
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SOURCE: Sysco Corporation
CONTACT: Sysco Corporation
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