Sysco Appoints Nelson Peltz And Josh Frank To Its Board

(RTTNews) - Sysco Corp. (SYY) announced that it has added Nelson Peltz, chief executive officer and a founding partner of Trian Fund Management L.P., and Josh Frank, a Trian partner, to its Board of Directors, effective August 21, 2015.

With the election of Peltz and Frank, the Sysco Board of Directors expands to 12 members, 10 of whom are independent. Peltz and Frank will be included in the company's slate of nominees for election to the Board at the 2015 Annual Meeting of Shareholders.

Peltz said,"Sysco is a leader in its business, and we believe it is undervalued and has tremendous long-term potential. As Sysco's largest shareholder with an approximate 7.1 percent ownership position, we welcome the opportunity to work constructively with the Board and management."

Peltz will join the Corporate Governance and Nominating Committee and Frank will join the Compensation and Finance Committees of Sysco's Board.