Sysco Corp. Names Manny Fernandez Executive Chairman

Sysco Corp. announced that its board of directors has named Manny Fernandez, currently the non-executive chairman of Sysco, as the company's executive chairman, effective immediately. Fernandez has served as a director of Sysco since November 2006 and as Sysco's non-executive chairman since June 2009. Bill DeLaney, Sysco's president and chief executive officer, will continue both in his current role and as a member of the company's board of directors.

"As the North American leader in foodservice distribution, Sysco has a rich history of innovatively serving its customers while offering them value and earning their trust," Fernandez said in a prepared statement. "I'm confident that our business model and strategies will build upon that tradition. I am looking forward to being closely engaged with our associates in ensuring that Sysco delivers on its promises at the necessary speed and performance levels that our shareholders, customers and suppliers expect."

"We are pleased that Manny will be providing our senior team with more of his unique leadership and technology capability as we move forward with implementing Sysco's strategies for future success," DeLaney said. "In order to achieve such success, we must remain focused on accelerating the transformation of our business while continuing to maximize our operational performance."

Fernandez remains chairman of Sysco's board of directors. Upon Fernandez becoming a full-time Sysco employee, he resigned his board positions on the compensation committee and the corporate governance and nominating committee. Sysco's board will also elect from its current membership a lead director at its May 23, 2012 meeting.