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Sysco

He will retire from ceo duties effective March 31, 2009, but stay on as chairman to facilitate a smooth transition of leadership until Sysco’s fiscal 2009 year ends on June 27, 2009.

Bill DeLaney, Sysco's executive vice president and chief financial officer, has been appointed chief executive officer effective March 31, 2009.  He will continue to act as cfo until a replacement is found. 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.

In making the announcement, Schnieders, 60, commented, "I made this personal decision to retire after a great deal of thought and reflection. As my wife Beth and I look forward to the next phase of our lives, we are dedicated to pursuing our interests in sustainability and battling childhood hunger. I am grateful to the thousands of Sysco associates whom I've had the honor to serve with over the past 27 years. Looking forward, I am confident that Sysco is well positioned to build upon its leadership role in the foodservice industry under Bill's and Ken's stewardship."

Since Schnieders assumed the top spot at Sysco in January 2003, the company has seen sales rise from $26.1 billion to $37.5 billion in 2008.  The rate of sales growth slowed from 7.7 percent in 2006 to 7.1 percent last year.

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 was named a vice president, continuing in those responsibilities until 1994. He 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, DeLaney was appointed president and ceo 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. When he takes the helm in March, his salary will increase from $560,000 to $800,000.

Spitler, 59, joined Sysco in 1986 and has held a variety of executive positions with the company, including serving as president and ceo of its Detroit and Houston operating companies. In 2000, he was named senior vice president, operations for the Northeast Region, with responsibility for 14 operating companies in eight states. Spitler relocated to Sysco's corporate headquarters in 2002 when he was promoted to executive vice president, redistribution and foodservice operations with responsibility for nationwide broadline operations and the development of redistribution facilities. In January, 2005, he was promoted to executive vice president and president of North American foodservice operations. He was promoted to his current position in February, 2007.  When his promotion becomes effective in March, his salary will rise from $693,500 to $730,000.

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