US Foods Reveals Chief Executive Officer Transition and Board Changes; Andrew Iacobucci, Robert M. Dutkowsky, and Pietro Satriano Comment
ROSEMONT, IL - A monumental transition is underway as US Foods announced that Pietro Satriano will be leaving the company and will no longer be in the role of Chief Executive Officer. Andrew Iacobucci has been appointed Interim Chief Executive Officer, and Robert M. Dutkowsky has been appointed Executive Chair.
Iacobucci, who currently serves as Chief Commercial Officer, commented on his temporary role.
“US Foods is off to a great start in 2022 and our recent financial performance highlights the strong early progress we are making against the initiatives that support our long-range plan. I look forward to working closely with Bob, the rest of the management team, and our associates to continue building our momentum, with a focus on driving improved top and bottom-line results,” he stated.
To identify a permanent CEO, US Foods’ Board of Directors has formed a five-member search committee.
“After careful consideration, the Board determined that it is time for a change in leadership at US Foods. On behalf of the entire Board, I want to thank Pietro for his dedication and leadership to US Foods over the last 11 years and for guiding the company through the pandemic,” Dutkowsky commented, further explaining the decision. “As we navigate this transition, US Foods remains well-positioned to capitalize on the opportunities ahead to generate significant value for our shareholders.”
Dutkowsky also explained why Iacobucci is a good fit for the company as it continues its search for a permanent CEO.
“Since joining the company in 2017, Andrew has been a proven leader. As our Chief Commercial Officer with in-depth knowledge of our customers, he has been actively involved in our ongoing efforts to profitably drive market share and optimize gross margins—two key pillars of our balanced long-range plan. The Board is grateful that Andrew has agreed to step into the Interim CEO role and is confident he is the right person to lead us through this transition. I look forward to working closely with him and the rest of our exceptional management team as we continue to execute our strategy,” Dutkowsky said.
Satriano added parting words and spoke fondly of his time with US Foods.
“It has been an honor to have led such a remarkable team committed to making US Foods one of America’s great food companies, and I am proud of all that we have achieved together,” added Satriano of the transition. “I wish Bob, Andrew, and the entire team continued success.”
We’ll continue to keep an eye on the transition, so stay tuned here at AndNowUKnow.