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Sysco appoints Ward as non-executive chairman

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November 18, 2013 10:45 AM EST | AP


HOUSTON (AP) — Food distributor Sysco has named Jackie M. Ward as its non-executive chairman.

Ward succeeds Manny Fernandez, who retired from the board on Friday. He'd been on the board since November 2006.

Ward is the former chairman, president and CEO of Computer Generation Inc. She has served as a Sysco Corp. board member since September 2001. She was its lead director, chaired the corporate governance and nominating committee and served on the compensation committee and the executive committee.

Earlier this month Sysco reported that its fiscal first-quarter net income was nearly flat as it dealt with restructuring and other costs, but adjusted results beat expectations.

Ward received $140,000 serving as non-employee lead director for the fiscal year that ended in June, along with about $185,000 in restricted stock awards, according to filings with the Securities and Exchange Commission. Sysco did not say how her compensation will change with the new role.

Sysco's stock fell 14 cents to $33.56 in morning trading on Monday. The stock is up about 6 percent since the start of the year, with most of that gain coming in the current quarter.