Satriano Assumes Command from Lederer at US Foods
Pietro Satriano took over as president and ceo of Rosemont, Illinois-headquartered US Foods on July 13. He replaced John Lederer, who will stay on as an advisor to the company and its board of directors. Satriano previously served as chief merchandising officer for US Foods.
“Pietro is a proven leader whose business experience and strategic vision will be perfect for this next phase of US Foods’ evolution,” commented Ed Liddy, chairman of the board of directors. “We want to thank John Lederer for guiding the company through its incredible transformation over the past five years.”
Prior to joining US Foods in 2011, Satriano was president of LoyaltyOne Canada, the company behind AirMiles, Canada’s largest consumer loyalty reward program in which two thirds of households are active. Previously, he was executive vice president of Loblaw Brands at Loblaw Companies where he was responsible for its complete range of private brands.
The change in top leadership came two weeks after Sysco Corporation announced that it has terminated its merger agreement with US Foods, days after the US District Court in Washington, DC, granted the Federal Trade Commission's request for a preliminary injunction to block the proposed Sysco-US Foods merger. This action also terminated an agreement with Performance Food Group (PFG) to purchase US Foods facilities in 11 markets.
Under terms of the merger agreement, the termination of the transaction requires Houston, Texas-headquartered Sysco to pay break-up fees of $300 million to US Foods and $12.5 million to PFG.
US Foods ranks as a leading distributor to the independent and multi-unit restaurant, healthcare and hospitality foodservice sectors in North America. Generating annual revenue of approximately $22 billion, he company offers more than 350,000 products and employs approximately 25,000 people at more than 60 locations.