Joel Grade Named Sysco Chief Financial Officer, Effective Sept. 1, 2015
01 April 2015 - 11:00PM
Sysco Corporation (NYSE:SYY) announced today that Joel T. Grade has
been named executive vice president and chief financial officer,
effective Sept. 1, 2015, following Chris Kreidler's decision to
leave the company in order to relocate to the northeast and spend
more time with his family. Kreidler will remain CFO through Aug.
31, 2015, and work closely with Grade and Sysco's senior executive
team to ensure an orderly transition of his responsibilities.
Kreidler has also agreed to stay on through the end of December as
an advisor to the company.
"Chris was the first senior executive I hired upon becoming CEO
in 2009, and we are indebted to him for his many contributions and
tireless efforts on behalf of Sysco," said Bill DeLaney, Sysco's
president and chief executive officer. "His strong leadership in
capital markets, long-term planning, mergers and acquisitions, and
integration planning for the US Foods merger are areas where Chris
has made a significant and long-term impact on our company. We
respect Chris' thoughtful and personal decision to step down, and
wish Chris and his family all the best for their future."
Grade has served as Sysco's senior vice president of finance and
chief accounting officer since early 2014 with responsibility for
field finance, commercial finance, financial planning and analysis,
financial reporting, and shared services accounting. He began his
career at Sysco as a staff auditor in 1996 and has since held a
variety of senior finance and commercial roles, including chief
financial officer of Sysco Chicago in 2002 followed by chief
financial officer of Sysco Canada in 2007. He was later promoted to
president of Sysco Canada in 2010 and then became senior vice
president of foodservice operations, north region and Canada in
2012. Grade earned an undergraduate degree in Accounting and
Finance with a specialization in International Business from the
University of Wisconsin-Madison in 1993 and an MBA in Finance,
Strategy and Marketing from Northwestern University's Kellogg
School of Management in 2007.
"As a veteran Sysco leader with nearly 20 years of experience in
key finance and commercial roles, Joel is uniquely suited to step
into the CFO position," DeLaney said. "His deep knowledge of
our local operations and people, combined with his more recent
service at the corporate level, give him a well-rounded view of how
to better serve our customers. We are fortunate to have a leader
like Joel ready to take on this key position and I look forward to
working closely with him in his new role as we move forward."
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 194 distribution facilities
serving approximately 425,000 customers. For Fiscal Year 2014 that
ended June 28, 2014, the company generated sales of more than $46
billion. For more information, visit www.sysco.com or connect with
Sysco on Facebook at www.facebook.com/SyscoCorporation or Twitter
at https://twitter.com/Sysco.
CONTACT: Charley Wilson
Vice President, Corporate Communications
T 281-584-2423
Shannon Mutschler
Vice President, Investor Relations
T: 281-584-1308
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