Sponsored By

Sysco CEO Tom Bene is stepping down

Former CVS executive Kevin Hourican is slated to replace Bene, who will serve as an executive adviser through March.

Jonathan Maze, Senior Financial Editor

January 13, 2020

2 Min Read
Sysco CEO Tom Bene is stepping down
Photograph: Shutterstock

Sysco Corp. on Monday said that CEO Tom Bene will step down at the end of January, at which time he will be replaced by former CVS Health executive Kevin Hourican.

Bene will remain with the Houston-based distributor through March as an executive adviser, the company said.

Sysco said that, while its performance “has improved steadily the last few years,” it believes the changes “will enable the company to accelerate performance, fully capitalize on its scale advantages and drive meaningful operating improvements.”

The company specifically mentioned Hourican’s experience in sales, supply chain, logistics, operations and digital technologies.

“The board believes Kevin’s leadership and skill set align strongly with Sysco’s strategic priorities in this next phase of accelerated growth,” Larry Glasscock, chair of Sysco’s governance and nominating committee, said in a statement. He also said Shirley’s “familiarity with the company and deep experience over decades running highly successful consumer businesses will ensure a smooth leadership transition.”

Bene has been with Sysco since 2013 and has been CEO for the past two years. “Tom has made many significant contributions to Sysco, and the board and I are grateful for his leadership, integrity and his dedication to our associates and customers,” Glasscock said.

Hourican oversaw CVS’s $85 billion retail business, including its 9,900 retail stores. He previously led the company’s pharmacy operations, professional services and retail pharmacy product innovation and development. Before that, he held leadership roles at retailer Macy’s.

Sysco also said that Lead Independent Director Ed Shirley has been elected executive chair, and Brad Halverson has been elected to Shirley’s former position.

Shirley joined the board in 2016 and has been lead independent director since 2018. As executive chair, he will work alongside Hourican “to ensure a smooth and successful transition, lead the board of directors and provide input on key strategic priorities.”

Halverson joined the board in 2016 and is a former executive with Caterpillar Inc.

Sysco stock was down slightly in morning trading Monday.

Sysco is the country’s largest foodservice distributor, with more than $60 billion in revenue annually.

About the Author

Jonathan Maze

Senior Financial Editor, Nation's Restaurant News

Follow @jonathanmaze

Jonathan Maze covers finance for sister publication Nation's Restaurant News, as well as restaurant chains based in the Midwest. 

Jonathan came to NRN in 2014 after seven years covering restaurants for Franchise Times Magazine and the Restaurant Finance Monitor. There, he created an award-winning blog that reported on and analyzed the restaurant industry. He is routinely quoted in various mainstream press articles, including the Associated Press, Washington Post, Orlando Sentinel, Denver Post and Yahoo! Finance.  He lives in a suburb of Minneapolis with his wife, two children and their cat.

Reach Jonathan at [email protected], or by phone at 651 633-6526.

Subscribe to FoodService Director Newsletters
Get the foodservice industry news and insights you need for success, right in your inbox.