Sysco 2009 Annual Report Download - page 3

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2009 Annual Report 1
G
Letter From the Chairman
Good things come from Sysco.
As I assume the role of chairman, I want
to say what an honor it is to join such a
great company founded by John Baugh,
who shaped the character of Sysco as an
organization built on solid ethics and
strong values. Rick Schnieders, who
retired as chairman and chief executive
officer during the fiscal year, leaves as
a legacy a company that is financially
healthy and at the forefront of the
industry’s sustainability initiatives.
We have taken a meaningful step to
redefine our corporate brand, most
notably with our Sysco logo. Our new
branding more accurately depicts who
we are and our overarching role in the
farm-to-fork supply chain that serves
the North American foodservice market.
When we speak of good things, our com-
pany’s operating results this past year is
one of them. While the business results
are detailed in the management report
on the next pages, I want to recognize
Sysco’s management team for working
through a tough year and producing solid
results. Our business continues to generate
strong cash flow. Our financial strength
allows us to invest in our business through
all types of economic cycles and we remain
committed to making those strategic
investments that position us well for
future growth opportunities.
As we go forward, I am confident in
our management team which is led by
Bill DeLaney, recently promoted to chief
executive officer, and Ken Spitler, whom
the board elected to vice chairman in
addition to his role as president and
chief operating officer. Bill and Ken
together have nearly fifty years of leader-
ship positions with Sysco and are com-
mitted to the long-term success of our
company. Together, we will continue
to work to increase Sysco’s value to
customers, associates, suppliers and
ultimately our shareholders.
Sysco is the preeminent leader of the
foodservice industry, and in some ways,
we are just beginning to realize our full
potential. For example, we are currently
exploring how to improve our service to
“Sysco is the preeminent leader of the
foodservice industry, and in some ways,
we are just beginning to realize our
full potential.”
Manny Fernandez
Chairman of the Board
October 8, 2009
customers and enhance our overall
productivity by developing a more robust
technology platform.
Throughout Sysco’s forty years, we have
frequently and effectively dealt with
various types of business and economic
challenges, and we are confident that
we will successfully navigate the difficult
market environment that our industry
faces today. Short term, our cost efficien-
cies, our strong balance sheet and our
customer relationships have been enor-
mous assets in this economy. Long term,
we need to take those same strengths
and leverage them further... in short,
to do more.
We look forward to creating more “good
things” in 2010 and beyond.