Houston-based SYSCO Corporation, the largest foodservice marketing and distribution organisation in the US, has announced that Richard J. Schnieders, currently president and COO of the company, has been elected chairman and CEO effective 1 January 2003.
Go deeper with GlobalData
Schnieders will succeed Charles H. Cotros, who is retiring from the company on 31 December 2002, after a 43-year career in the foodservice distribution industry, including 28 years with SYSCO in various management and executive positions. Schnieders’ election is in accordance with the company’s planned succession of management.
“The industry we serve is now approaching US$200bn annually and I am bullish on the future of our industry,” Schnieders said. “I am equally excited about the opportunities that lay ahead for SYSCO. The foodservice industry remains a dynamic force in the North American economy, and our ability to offer innovative services, as well as quality assured products to help our customers be more successful, has allowed us to maintain our position as the US’ leading foodservice distributor.
“We are targeting a goal of US$50bn in sales by 2008.
“On a personal note,” he continued, “I am extremely excited about becoming SYSCO’s fifth CEO in its 33-year history. Charles Cotros was the gentleman who hired me when I began my SYSCO career in 1982, and I am grateful to him for the guidance and wisdom he has shared with me throughout the last 20 years, and commend his contributions to SYSCO and our industry.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“When he was named a corporate officer in 1988, the foodservice distribution market was approximately US$80bn and SYSCO, as the industry leader, had sales of approximately US$4bn. Today, the market we serve has more than doubled, while SYSCO’s sales have increased approximately 460% to US$21.8bn for fiscal 2001.”
Cotros agreed with Schnieders’ assessment of the industry’s future, noting that with each passing year, meals-prepared-away-from-home have become an increasing necessity.
“I personally have witnessed an amazing shift in the dining habits of North American consumers during the past 43 years,” he said. “Today, dining out is considered not only entertainment but also an essential part of daily life as individuals balance their personal and professional obligations.”
Schnieders, 54, joined SYSCO’s Memphis, Tenn. operation in 1982 in the executive development program. He subsequently served as director of supplies and equipment, VP of merchandising and executive VP. In 1988 he was promoted to president and CEO of the Memphis operation and later became chairman of that company.
In 1992 Schnieders transferred to SYSCO’s corporate headquarters as senior VP, merchandising services. He assumed additional responsibility for multi-unit sales in 1997, was elected to SYSCO’s board of directors later that year, and in 1998 he progressed to executive VP, foodservice operations. He was named SYSCO’s COO in January of 2000 and in July he assumed added responsibilities as president of the corporation. He also is a member of the board of directors of Aviall Inc.
Cotros, 64, began his career in the foodservice industry in 1960 with his family’s business, Tri-State General Food Supply. After the company merged with SYSCO in 1974 he served as president of the Memphis operation from 1975 to 1977 and 1982 to 1988. During the 1977 to 1982 interim he was president of SYSCO’s Jackson, Miss. operation.
Upon returning to Memphis in 1982, he was that operation’s CEO while simultaneously serving as chairman of SYSCO companies in Arkansas, Louisiana, Mississippi and Kentucky. Cotros was elected a member of SYSCO’s board of directors in 1986 and in 1988 was appointed executive VP of the corporation and president, foodservice operations. He was elected COO of SYSCO in 1995 and assumed the additional role of president of the corporation in 1999. Cotros became CEO in January 2000 and in July 2000 he was elected chairman of the board.
