Sysco Corp Announces Executive & Board Changes
Ticker: SYY · Form: 8-K · Filed: 2024-08-16T00:00:00.000Z
Sentiment: neutral
Topics: executive-compensation, board-changes, management-update
Related Tickers: SYY
TL;DR
Sysco's CEO Niccol and other execs got new deals; board seats shuffled. Big changes coming?
AI Summary
Sysco Corporation announced on August 15, 2024, changes in its executive team and board of directors. Effective August 14, 2024, Brian W. Niccol, Chief Executive Officer, and other officers have entered into new employment agreements. Additionally, the company announced the election of new directors and changes to committee memberships.
Why It Matters
Changes in key leadership and board composition can signal strategic shifts or governance updates that may impact the company's future direction and performance.
Risk Assessment
Risk Level: medium — Executive and board changes can introduce uncertainty regarding future strategy and leadership stability.
Key Players & Entities
- Sysco Corporation (company) — Registrant
- Brian W. Niccol (person) — Chief Executive Officer
- August 15, 2024 (date) — Date of Report
- August 14, 2024 (date) — Effective date of employment agreements
FAQ
What specific changes were made to the executive compensation arrangements?
The filing indicates that new employment agreements were entered into by Brian W. Niccol and other officers, but the specific details of these arrangements are not provided in this summary section.
Who are the newly elected directors and what committees will they serve on?
The filing mentions the election of new directors and changes to committee memberships, but their names and specific committee assignments are not detailed in this initial summary.
What is the effective date of these executive and board changes?
The changes related to executive employment agreements were effective August 14, 2024, and the report is dated August 15, 2024.
Are there any details on the reasons behind these executive and board changes?
The filing does not provide specific reasons for the executive and board changes in the provided text.
What is Sysco Corporation's primary business as indicated by its SIC code?
Sysco Corporation's Standard Industrial Classification (SIC) code is 5140, which corresponds to Wholesale - Groceries & Related Products.
Filing Stats: 650 words · 3 min read · ~2 pages · Grade level 11.5 · Accepted 2024-08-16 08:07:50
Key Financial Figures
- $1.00 — ange on which registered Common stock, $1.00 Par Value SYY New York Stock Exchange
Filing Documents
- syy-20240815.htm (8-K) — 28KB
- syyannouncesnewdirectortob.htm (EX-99.1) — 8KB
- image_0a.jpg (GRAPHIC) — 315KB
- 0000096021-24-000100.txt ( ) — 613KB
- syy-20240815.xsd (EX-101.SCH) — 2KB
- syy-20240815_def.xml (EX-101.DEF) — 13KB
- syy-20240815_lab.xml (EX-101.LAB) — 23KB
- syy-20240815_pre.xml (EX-101.PRE) — 14KB
- syy-20240815_htm.xml (XML) — 3KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (a) Financial Statements of Businesses Acquired. Not applicable. (b) Pro Forma Financial Information. Not applicable. (c) Shell Company Transactions. Not applicable. (d) Exhibits. Exhibit Number Description 99.1 Press Release dated August 16, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) - 3 -
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, Sysco Corporation has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Sysco Corporation Date: August __, 2024 By: /s/ Eve M. McFadden Eve M. McFadden Senior Vice President, Legal, General Counsel and Corporate Secretary - 4 -