HOUSTON, May 15, 2007 (PRIME NEWSWIRE) -- SYSCO Corporation (NYSE:SYY) today announced that its Board of Directors approved the promotion of Bill DeLaney to executive vice president and chief financial officer (CFO), effective July 1, 2007. On December 11, 2006, the company announced that John Stubblefield, currently SYSCO's executive vice president and CFO had informed the company of his planned retirement, effective at the end of the company's fiscal year. Also in that news release, the company announced that Mr. DeLaney had been named senior vice president, financial reporting, and would assume Mr. Stubblefield's responsibilities upon his retirement and pending final Board approval.
Mr. DeLaney, 51, began his SYSCO career in 1987 as assistant treasurer at the company's corporate headquarters. He was promoted to treasurer in 1991, and in 1993 he was named a vice president of the company, continuing in those responsibilities until 1994. Mr. DeLaney joined Sysco Food Services of Syracuse in 1996 as chief financial officer, progressed to senior vice president in 1998 and executive vice president in 2002. In 2004, Mr. DeLaney was appointed president and chief executive officer of Sysco Food Services of Charlotte, the position he held prior to his December, 2006 promotion to his current title.
Mr. DeLaney earned a bachelor of business administration degree in 1977 from the University of Notre Dame, located in South Bend, Indiana, and in 1982 he received his master of business administration degree from the Wharton Graduate Division of the University of Pennsylvania. He and his wife, Debbie, have three children and will reside in Houston.
Mr. Stubblefield, 61, began his SYSCO career in 1984 as controller of its Houston operating company, a position he held for two years before transferring to the company's Denver subsidiary in 1986 as vice president of finance. In 1992, he transferred to SYSCO's corporate headquarters in Houston as vice president and controller, progressing to senior vice president in 1993 and assuming additional duties as chief financial officer in 1994. Mr. Stubblefield was named senior vice president, finance and administration in 1999 and the following year was promoted to his current position. Mr. Stubblefield has also served as a member of SYSCO's Board of Directors since his election in 2003.
SYSCO is the global leader in selling, marketing and distributing food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepare meals away from home. Its family of products also includes equipment and supplies for the foodservice and hospitality industries. For the calendar year 2006, the company generated $33.9 billion in sales. For more information about SYSCO visit the company's Internet home page at www.sysco.com.
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