Bene Poised to Take the Reins at Narrow-Moat Sysco; Shares Fairly Valued
Narrow-moat Sysco announced on July 17 that President and COO Tom Bene will succeed CEO Bill DeLaney in January 2018. From an internal perspective, Bene struck us as the heir apparent, given he has held roles of increased responsibilities across the firm’s operations, commercial functions, and supply chain organization during his four years with the organization (after spending 23 years at PepsiCo). While Sysco had historically prided itself on the internal experience of its management bench, we...Sysco, acting through its subsidiaries and divisions, is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The company has three reportable segments: United States Foodservice Operations, which primarily include United States Broadline operations, which distribute a line of food products, including custom-cut meat, seafood, specialty produce, specialty imports and a variety of non-food products; International Foodservice Operations, which include operations in the Americas and Europe, which distribute a line of food products and a variety of non-food products; and SYGMA, which consists of its United States customized distribution subsidiary.
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