Sysco Names Kevin Hourican To Succeed Tom Bené As New President And CEO

(RTTNews) - Foodservice distribution company Sysco Corp. (SYY) announced Monday that Tom Bené will be stepping down from his roles as president and chief executive officer, effective January 31, 2020. Bené will stay on with Sysco as an executive advisor until March 1, 2020, to be available to assist with a smooth and orderly transition of leadership for the Company.

The board of directors has unanimously elected Kevin Hourican as the Company's new president and chief executive officer, starting on February 1, 2020. Hourican most recently served as executive vice president of CVS Health and president of CVS Pharmacy and is a proven business leader with two decades of experience driving market-leading growth for large organizations.

He previously held the role of executive vice president, retail pharmacy and supply chain, and led CVS' pharmacy operations. Prior to joining CVS Health, Kevin held executive leadership roles at Macy's, most recently serving as senior vice president, regional director of stores.

Additionally, the board has elected lead independent director Ed Shirley as executive chair, replacing Bené, and Brad Halverson has been elected as the new lead independent director, both effective January 13, 2020.

The board believes that the senior leadership changes announced today will enable the Company to accelerate performance, fully capitalize on its scale advantages and drive meaningful operating improvements.