- After almost nine years on the job
- Accolades, praise and thanks for DeLaney
- DeLaney spoke at length and said 175 words
(exechange) — Houston, Texas, July 17, 2017 — Bill DeLaney, chief executive of Sysco, hands over the reins. As announced by Sysco Corporation in a news release and in a regulatory filing published on Monday, July 17, 2017, William J. (Bill) DeLaney leaves the post as chief executive officer at the distributor of food to restaurants and hospitals after almost nine years on the job, effective January 01, 2018.
DeLaney’s duties are taken over by Tom Bené, currently chief operating officer at Sysco Corporation.
“Successful culmination of the board’s long-range leadership succession planning process”
The management change is explained as follows. Jackie Ward, chairman of Sysco’s board, said: “Today’s announcement represents the successful culmination of the board’s long-range leadership succession planning process and will result in an orderly transition.”
Precise information about the future plans of DeLaney was not immediately available.
Sysco said: “Mr. William J. DeLaney, Chief Executive Officer of Sysco Corporation …, notified the Sysco Board of Directors … on July 17, 2017, that he intends to retire from his service as an officer of the Company and as a member of the Board, in each case effective on December 31, 2017.”
Share price rise since November 2008
The change follows a rise in the share price of Sysco Corporation since November 2008.
Trian holds 8.22 percent stake
Trian Fund Management, LP reported an 8.22 percent stake in Sysco Corporation as of March 30, 2017. Trian Fund Management, LP is a hedge fund.
Chaired by Jackie Ward
Sysco Corporation is chaired by Jackie Ward.
On the job as CEO since 2009
William J. DeLaney, III serves as the Chief Executive Officer at Sysco Corporation since March 27, 2009.
DeLaney became CEO and a member of Sysco’s Board of Directors in 2009.
He began his Sysco career in 1987 as Assistant Treasurer at Sysco’s corporate headquarters in Houston.
He was promoted to Treasurer in 1991, and in 1993, was named a Vice President of the corporation, continuing in that role until 1994.
He joined Sysco Syracuse in 1996 as CFO, progressed to Senior Vice President in 1998 and Executive Vice President in 2002.
In 2004, DeLaney moved to Sysco Charlotte as President and CEO.
He returned to Houston in 2007 and, subsequently, was named Executive Vice President and CFO of the corporation, a position he held for two years before being promoted to CEO.
DeLaney served as Sysco’s President from 2009-2015.
DeLaney also serves on the Board of Directors of Express Scripts, Inc., The Center for Houston’s Future and the Greater Houston Partnership.
DeLaney will serve as an advisor to Bené through December 31, 2018.
Read the full story in the exechange report 30.2017 ($).