Aramark has announced that its chairman, president & CEO Eric Foss is retiring and that a search is underway for his successor.
Foss will leave the leading supplier on October 2, carrying on in an advisory capacity until that point.
A new chief executive officer has not yet been appointed, but lead independent director Stephen Sadove has been named non-executive chairman of the Board of Directors.
The Company’s Board has also 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, chief financial officer Stephen Bramlage, executive vice president of human resources Lynn McKee and senior vice president of general counsel Lauren Harrington.
Sadove paid tribute to Foss’ service to the company, saying: “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 & inclusion, health & wellness and frontline education.
“As a Board, we are committed to conducting a comprehensive search, including seeking input, to identify the next chief executive officer to execute on our growth strategy and lead our 270,000 team members, for the benefit of all of our shareholders.”
Foss said: “It has been an honor and privilege leading Aramark through a transformative journey, from a successful IPO to an impressive run as a public company.
“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.”