Food distribution company Sysco Corp. announced that CEO Tom Bené will be stepping down after two years years as president and CEO. Bené will be replaced by former executive vice president of CVS Health/president of CVS Pharmacy Kevin Hourican starting February 1. The board has also elected independent director Ed Shirley as executive chair to replace Bené, and Brad Halverson has been elected as the new lead independent director.
Despite “steady improvements” Sysco cited the need to “accelerate performance, fully capitalize on scale advantages and drive meaningful operating improvements” in response to the end of Bené’s short tenure as CEO, stating that the company hoped to tap into Hourican’s expertise in “sales, supply chain, logistics, operations and digital technologies.”
“I have been honored to lead Sysco over the last few years and I am incredibly proud of all that our team has accomplished. Sysco’s leading market position in the foodservice industry, our unique capabilities and talented associates have positioned us well for the future,” Bené said in a statement.
As executive vice president of CVS Health and president of CVS Pharmacy, Hourican oversaw CVS’ retail business, and was in charge of merchandising, marketing, supply chain, and pharmacy operations and product innovation. Prior to his roles at CVS, Hourican was a senior vice president at Macy’s and a regional director of stores at Sears.
“I am thrilled to join the Sysco team. Sysco has an exceptional business model and significant headroom for profitable growth,” Hourican said in a statement. “I look forward to working with Ed, the board and the talented global team to continue the company’s success and identify new opportunities to enhance our market leadership and long-term growth prospects."
Sysco stated that their fiscal outlook for 2020 remains unchanged.
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