Sysco CEO Tom Bené leaves

  • Push-out Score determined
  • After about two years in the position
  • Praise, thanks and good wishes for Bené
  • Kevin Hourican taking over
  • Bené said 67 words

(exechange) — Houston, Texas, January 13, 2020 — Tom Bené, chief executive of Sysco, leaves. As announced by Sysco Corp. in a news release on Monday, January 13, 2020, Thomas L. (Tom) Bené leaves his post as chief executive officer at the foodservice distribution company after about two years in the role, effective January 31, 2020.

Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who announced their departure over the past 12 months was 7.5 years, according to data compiled by exechange. On an accumulated basis, around 26% of the CEOs who announced their departure over the past 12 months left their posts within three years.

Tom Bené’s duties as CEO will be taken over by Kevin Hourican, most recently executive vice president of CVS Health.

The fact that Tom Bené’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.

“To accelerate performance”

Tom Bené’s departure from the CEO post is explained as follows. Sysco said: “While Sysco’s performance has improved steadily the last few years, 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. Specifically, the board believes Kevin’s expertise across key company capabilities – sales, supply chain, logistics, operations and digital technologies – will unlock meaningful value for customers and other key stakeholders.”

Precise information regarding Tom Bené’s future plans was not immediately available.

“Stepping down”

Sysco said: “Tom Bené will be stepping down from his roles as president and chief executive officer effective January 31, 2020. Tom 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.”

Share price increase since January 2018

The announcement follows an increase in Sysco Corp.’s share price of 38% since January 2018.

In the position of CEO since 2018

Tom Bené became CEO of the Company in 2018.

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

Bené earned a Bachelor of Science degree in Business Administration from the University of Kansas.

Bené has served as Sysco’s President and Chief Executive Officer since January 2018.

Previously, he served as Sysco’s President and Chief Operating Officer from January 2016 to December 2017, Executive Vice President and President, Foodservice Operations from January 2015 to December 2015, Executive Vice President and Chief Commercial Officer from September 2013 to December 2014 and as Executive Vice President, Chief Merchandising Officer from May 2013 to September 2013.

Prior to joining Sysco, Bené served as President of PepsiCo Foodservice from 2011 until 2013.

During his 23 year career with PepsiCo, Bené held various senior roles, including President, Pepsi-Cola North American Beverages; SVP, Sales and Franchise Development; President, PepsiCo Foods & Beverages, Canada; and Chief Operating Officer, South Beach Beverage Co.

Bené joined PepsiCo in 1989 after working for American Hospital Supply.

Push-out Score determined

The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.

exechange reached out to Sysco and offered the company the opportunity to comment on the score.

Read the full story in the exechange report 3.2020 ($).