Sysco Corporation (“Sysco”) is the North American leader in selling, marketing and distributing food products, equipment and supplies for the foodservice and hospitality industries.
Trian was attracted to Sysco due to the company’s stable growth, scale relative to peers, well-established and trusted brand, and high cash flow generation. Trian believed there was a meaningful opportunity at Sysco to improve operating margins, enhance working capital efficiency, implement a more efficient capital structure and better align compensation with corporate objectives and company performance.
On August 14, 2015, Trian announced its investment in Sysco. On August 20, 2015, Trian partners Nelson Peltz and Josh Frank joined Sysco’s Board of Directors.
On February 1, 2020, Kevin Hourican (former President of CVS Pharmacy and Executive Vice President of CVS Health) became Chief Executive Officer of Sysco. Trian looks forward to working with Kevin and Sysco’s Executive Chair of the board, Ed Shirley, who has extensive experience at large consumer products companies, to ensure a smooth and successful transition to Sysco’s next phase of development.