Steve Bramlage Will Remain as Executive Advisor Through Transition
PHILADELPHIA--(BUSINESS WIRE)--Jan. 6, 2020--
Aramark (NYSE:ARMK), a $16 billion global leader in food, facilities
management and uniforms, announced today that Thomas Ondrof will join
the Company as Executive Vice President, Chief Financial Officer,
effective January 7, 2020, succeeding Steve Bramlage who will remain
with the Company until April 3, 2020 in the role of Executive Advisor to
assist in this transition.
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Tom Ondrof has been named Executive Vice President, Chief Financial Officer of Aramark, a global leader in food, facilities management and uniforms. (Photo: Business Wire)
Ondrof previously served as Chief Financial Officer with Performance
Food Group (NYSE:PFGC), a $23 billion foodservice distributor. Prior to
PFG, Ondrof spent 24 years at Compass Group North America, where he
served in a variety of financial and business development leadership
roles, including Chief Development Officer, Chief Strategy Officer and
Chief Financial Officer.
“Tom is a proven financial leader who brings tremendous industry insight
and acumen to Aramark that will be invaluable to the Company’s future
success,” said John Zillmer, Chief Executive Officer, Aramark. “On
behalf of the Board, I want to thank Steve Bramlage for his numerous
contributions over the past 5 years, as well as his expertise and
guidance during this transition period. We wish him all the best in his
future endeavors.”
“I am incredibly excited to join Aramark at such a dynamic time in the
Company’s history,” said Tom Ondrof. “I look forward to leading the
finance organization and working closely with John and the leadership
team to accelerate Aramark’s revenue growth and unlock shareholder
value.”
About Tom Ondrof
As CFO of Performance Food Group, Ondrof created multiple working
capital and post-IPO strategic financial initiatives. During his time at
Compass, Ondrof led multi-billion dollar acquisitions, and guided a
financial organization that helped propel the company to exceptional
revenue and profit growth. Prior to his time at Compass, Ondrof worked
in planning and development at ITT Rayonier (NYSE:RYN), a Fortune 500
timberland real estate investment trust. He began his career as an
auditor with PricewaterhouseCoopers. Ondrof holds an MBA from University
of Georgia and a bachelor’s degree in Accounting from Wake Forest
University.
About Aramark
Aramark (NYSE: ARMK) proudly serves the world’s leading educational
institutions, Fortune 500 companies, world champion sports teams,
prominent healthcare providers, iconic destinations and cultural
attractions, and numerous municipalities in 19 countries around the
world. Our 280,000 team members deliver innovative experiences and
services in food, facilities management and uniforms to millions of
people every day. We strive to create a better world by making a
positive impact on people and the planet, including commitments to
engage our employees; empower healthy consumers; build local
communities; source ethically, inclusively and responsibly; operate
efficiently and reduce waste. Aramark is recognized as a Best Place to
Work by the Human Rights Campaign (LGBTQ), DiversityInc, Black
Enterprise and the Disability Equality Index. Learn more at www.aramark.com or
connect with us on Facebook and Twitter.
Forward Looking Statements
This press release includes “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995 that
reflect our current views as to future events and financial performance
with respect to, without limitation, conditions in our industry, our
operations, our economic performance and financial condition. These
statements can be identified by the fact that they do not relate
strictly to historical or current facts. They use words such as
“outlook,” “aim,” “anticipate,” “are or remain or continue to be
confident,” “have confidence,” “estimate,” “expect,” “will be,” “will
continue,” “will likely result,” “project,” “intend,” “plan,” “believe,”
“see,” “look to” and other words and terms of similar meaning or the
negative versions of such words.
Forward-looking statements speak only as of the date made. All
statements we make relating to our estimated and projected earnings,
costs, expenditures, cash flows, growth rates, financial results and our
estimated benefits and costs of our acquisitions are forward-looking
statements. In addition, we, through our senior management, from time to
time make forward-looking public statements concerning our expected
future operations and performance and other developments.
These forward-looking statements are subject to risks and uncertainties
that may change at any time, and, therefore, our actual results may
differ materially from those that we expected. We derive many of our
forward-looking statements from our operating budgets and forecasts,
which are based upon many detailed assumptions. While we believe that
our assumptions are reasonable, we caution that it is very difficult to
predict the impact of known factors, and, of course, it is impossible
for us to anticipate all factors that could affect our actual results.
All subsequent written and oral forward-looking statements attributable
to us, or persons acting on our behalf, are expressly qualified in their
entirety by the cautionary statements. Some of the factors that we
believe could affect our results include without limitation: our ability
to successfully implement our management transition; unfavorable
economic conditions; natural disasters, global calamities, sports
strikes and other adverse incidents; the failure to retain current
clients, renew existing client contracts and obtain new client
contracts; a determination by clients to reduce their outsourcing or use
of preferred vendors; competition in our industries; increased operating
costs and obstacles to cost recovery due to the pricing and cancellation
terms of our food and support services contracts; the inability to
achieve cost savings through our cost reduction efforts; our expansion
strategy; the failure to maintain food safety throughout our supply
chain, food-borne illness concerns and claims of illness or injury;
governmental regulations including those relating to food and beverages,
the environment, wage and hour and government contracting; liability
associated with noncompliance with applicable law or other governmental
regulations; new interpretations of or changes in the enforcement of the
government regulatory framework; currency risks and other risks
associated with international operations, including Foreign Corrupt
Practices Act, U.K. Bribery Act and other anti-corruption law
compliance; continued or further unionization of our workforce;
liability resulting from our participation in multiemployer defined
benefit pension plans; risks associated with suppliers from whom our
products are sourced; disruptions to our relationship with, or to the
business of, our primary distributor; the inability to hire and retain
sufficient qualified personnel or increases in labor costs; healthcare
reform legislation; the contract intensive nature of our business, which
may lead to client disputes; seasonality; disruptions in the
availability of our computer systems or privacy breaches; failure to
maintain effective internal controls; our leverage; the inability to
generate sufficient cash to service all of our indebtedness; debt
agreements that limit our flexibility in operating our business; our
ability to attract new or maintain existing customer and supplier
relationships at reasonable cost; our ability to retain key personnel
and other factors set forth under the headings Item 1A “Risk Factors,”
Item 3 “Legal Proceedings” and Item 7 “Management’s Discussion and
Analysis of Financial Condition and Results of Operations” and other
sections of our Annual Report on Form 10-K, filed with the SEC on
November 26, 2019 as such factors may be updated from time to time in
our other periodic filings with the SEC, which are accessible on the
SEC’s website at www.sec.gov
and which may be obtained by contacting Aramark’s investor relations
department via its website www.aramark.com.
Accordingly, there are or will be important factors that could cause
actual outcomes or results to differ materially from those indicated in
these statements. These factors should not be construed as exhaustive
and should be read in conjunction with the other cautionary statements
that are included in this press release and in our other filings with
the SEC. As a result of these risks and uncertainties, readers are
cautioned not to place undue reliance on any forward-looking statements
included herein or that may be made elsewhere from time to time by, or
on behalf of, us. We undertake no obligation to publicly update or
review any forward-looking statement, whether as a result of new
information, future developments, changes in our expectations, or
otherwise, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200106005512/en/
Source: Aramark
Media Inquiries
Karen Cutler
215-238-4063
Cutler-Karen@aramark.com
Investor Inquiries
Felise Kissell
215-409-7287
Kissell-Felise@aramark.com