Sysco Corporation's board has named two highly experienced members of the current executive management team to lead the company going forward. Bill DeLaney, Sysco's executive vice president and chief financial officer, has been appointed chief executive officer effective March 31, 2009. Ken Spitler, Sysco's president and chief operating officer, has been promoted to vice chairman of the board of directors and will continue in his current responsibilities. Mr. Delaney will continue to act as Chief Financial Officer until his replacement is chosen. Both Mr. DeLaney and Mr. Spitler join the board effective immediately.
The Board is confident that the combination of DeLaney and Spitler has the proven leadership experience and in-depth understanding of Sysco to continue its market leadership position in the evolving foodservice industry.
DeLaney commented, ``I am most appreciative and excited about the opportunity to assume greater leadership responsibilities at Sysco. Like many businesses competing in today's economic environment, we are faced with unprecedented market challenges. While the duration of the current business climate is not clear, some of those same challenges will provide significant long-term opportunity for Sysco. Moving forward, we remain confident in our ability to meet the expectations of shareholders, customers and suppliers through the leadership of our experienced management team, the efforts of our talented associates, and the strength of our financial position.
Mr. DeLaney, 53, began his Sysco career in 1987 as assistant treasurer at the company's corporate headquarters. He was promoted to treasurer in 1991, and in 1993 he was named a vice president of the company, continuing in those responsibilities until 1994. Mr. DeLaney joined Sysco Food Services of Syracuse in 1996 as chief financial officer, progressed to senior vice president in 1998 and executive vice president in 2002. In 2004, Mr. DeLaney was appointed president and chief executive officer of Sysco Food Services of Charlotte. He returned to the corporate headquarters in 2007 and has served in his current position since July of that year. Mr. DeLaney earned a bachelor of business administration degree in 1977 from the University of Notre Dame, and in 1982 he received his master of business administration degree from the Wharton Graduate Division of the University of Pennsylvania.