Aramark, the US-based global food service, facilities and uniform services provider announced on 26 August that chairman, president & CEO Eric Foss is retiring.
Lead independent director Stephen Sadove has been named non-executive Chairman of the Board of Directors.
Foss will remain in an advisory capacity until 2 October.
The company’s board has established an Office of the Chairman, whose members will oversee the company’s day-to-day operations and engage with the board on a regular basis until a successor to Foss is named.
The Office of the Chairman will consist of Sadove; Stephen Bramlage, chief financial officer; Lynn McKee, executive vice president, human resources; and Lauren Harrington, senior vice president, general counsel. The board has commenced a search for a successor.
“We thank Eric for his leadership and strategic contributions that position Aramark for future success. In addition to solid financial performance, Eric built a strong management team and advanced the company’s efforts in diversity and inclusion, health and wellness and frontline education,” said Sadove.
“As a board, we are committed to conducting a comprehensive search, including seeking input, to identify the next CEO to execute on our growth strategy and lead our 270,000 team members, for the benefit of all of our shareholders.”
“It has been an honour and privilege leading Aramark through a transformative journey, from a successful IPO to an impressive run as a public company,” said Foss (pictured). “I am enormously proud of the Aramark Service Stars around the world and what we have accomplished together. The company’s future prospects are extremely encouraging and I look forward to a smooth transition.”