Business Services Industry
Performance Food Group Announces Executive Appointments
Business Wire, May 25, 2005
RICHMOND, Va. -- Performance Food Group (NASDAQ:PFGC) today announced the appointment of Steven Spinner to serve as the Company's President and Chief Operating Officer. Spinner has served as an officer of the Company and President of Broadline Distribution since 2001. As the Company works to achieve organizational efficiency through the consolidation of the Corporate and Broadline infrastructure, Spinner and his team will execute the Company's core strategies to drive sales and earnings growth.
Bob Sledd will continue to serve as the Company's Chairman and Chief Executive Officer. Tom Hoffman, Chief Executive Officer of the Company's Customized distribution segment, will continue to report to Bob Sledd.
The Company also announced the appointment of J. Keith Middleton to serve as the Company's Senior Vice President and Controller. Middleton has served as the Company's Controller since June 2002. In addition, the Company announced the appointment of Joseph J. Traficanti to serve as the Company's Senior Vice President, General Counsel, Chief Compliance Officer and Corporate Secretary. Traficanti has served as the Company's Vice President, General Counsel, Chief Compliance Officer and Corporate Secretary since November 2004.
Bob Sledd, Chairman and Chief Executive Officer commented, "We are very pleased to announce each of these appointments. The promotion of Steve Spinner to President and Chief Operating Officer of the Company is a logical realignment of duties within our organization as we focus on our core distribution business, in anticipation of the sale of our Fresh-cut segment to Chiquita Brands, International. Steve has provided solid leadership and is working effectively with our team to drive significant improvements throughout the business. Both Keith Middleton and Joe Traficanti are valuable members of our management team, and their continued leadership in their roles will serve our Company well."
Performance Food Group markets and distributes more than 65,000 national and private label food and food-related products to approximately 44,000 restaurants, hotels, cafeterias, schools, healthcare facilities and other institutions. The Fresh Express(R) line is the industry leader and pioneer of fresh packaged salads. For more information on Performance Food Group, visit www.pfgc.com.
Certain statements made herein are forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties and are based on current expectations and management's estimates; actual results may differ materially. The risks and uncertainties which could impact these statements include, but are not limited to, general economic conditions; the relatively low margins and economic sensitivity of the foodservice business; the Company's reliance on major customers; the level of demand for the company's fresh-cut products; the possibility that the closing of the sale of the fresh-cut produce operations may not occur because of the failure of the closing conditions to be satisfied; the risk that the results of the Securities and Exchange Commission informal inquiry could have an adverse affect on the Company; the ability to identify and successfully complete acquisitions of other foodservice distributors; the Company's ability to successfully develop, produce and market new products and management of the Company's planned growth, including the Company's ability to successfully manage the transition of its sales mix and related production costs, all as detailed from time to time in the reports filed by the Company with the Securities and Exchange Commission.
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