US Foods Holding Corp. reports developments as a U.S. foodservice distributor serving restaurants, hospitality operators and other foodservice customers with fresh, frozen and dry food, nonfood products, e-commerce tools and business solutions. Recurring updates cover quarterly earnings, case volume, sales, profitability, cash flow, capital expenditures and share repurchases, along with distribution-network investments.
Company news also includes product and service launches such as Scoop exclusive-brand lineups, Menu IQ within the MOXē platform, and SIGNATURE tools for hospitality operators. Other recurring themes include customer programs, culinary scholarship initiatives and investor conference communications.
US Foods urges shareholders to vote "FOR ALL" of its director nominees using the WHITE proxy card at the upcoming May 18, 2022 Annual Meeting. The company emphasizes its track record of earnings growth, strategic investments, and a refreshed board of directors to drive shareholder value. US Foods states it has engaged with Sachem Head to avoid a proxy contest, highlighting the erratic nature of Sachem's demands as a barrier to settlement. The letter outlines the company's plans for market share growth, margin optimization, and operational efficiency through strategic initiatives.
US Foods Holding Corp. (NYSE: USFD) released its 2021 Corporate Social Responsibility (CSR) Report, highlighting advancements in sustainability across Products, People, and Planet. The report details over 2,300 sustainable products and significant diversity efforts, with 39% of leadership roles filled by women or people of color. Environmental goals included a 15% reduction in emissions intensity since 2015 and the commitment to renewable diesel fuel in California by mid-2022. Overall, the initiatives aim to create value for stakeholders and enhance the company's sustainability profile.
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Sachem Head Capital Management, holding approximately 8.7% of US Foods (NYSE: USFD), has filed updated proxy materials for the upcoming 2022 Annual Meeting, reducing its slate of nominees from seven to five. This decision follows the recent appointments of two new independent directors and the non-re-election of long-tenured director John Lederer. Sachem Head believes significant changes are necessary for US Foods to realize its potential and enhance stockholder value.
JLL (NYSE: JLL) has promoted Scott Einberger to Investor Relations Officer, effective April 1, 2022. He succeeds Chris Stent and will report to CFO Karen Brennan. Einberger brings extensive experience from his previous role at US Foods (NYSE: USFD) and joined JLL in September 2021. Brennan stated that Einberger is well-positioned to enhance the investor relations program. Einberger holds an MBA in Accounting and Finance and is a Certified Management Accountant (CMA). JLL operates globally with an annual revenue of $19.4 billion.
US Foods Holding Corp. (NYSE: USFD) has filed its preliminary proxy materials for the 2022 Annual Meeting, announcing new independent director nominees, Marla Gottschalk and Quentin Roach. Both bring extensive supply chain and financial expertise. Longtime CEO John Lederer will retire at this meeting. The Board aims to drive shareholder value through a long-range plan focusing on growth and operational efficiency, targeting ~$1.7 billion in Adjusted EBITDA by 2024. The Board's commitment to governance best practices includes the addition of six independent directors over four years and a diverse slate for the upcoming election.
US Foods Holding Corp. (NYSE: USFD) has launched its Spring 2022 Scoop™ under the theme 'Do More with Less,' showcasing 18 innovative products aimed at helping restaurants expand menus while managing costs. The company emphasizes the need for versatile offerings as nearly 60% of restaurants have reduced menus post-pandemic. The new products, including unique items like Monarch® Green Chickpeas and Chef’s Line® Korean Barbecue Sauce, aim to address labor shortages and improve operational efficiency. Operators can consult with US Foods experts for further insights and menu inspiration.
US Foods Holding Corp. (NYSE: USFD) announces key sustainability initiatives, committing to renewable diesel fuel for all California distribution centers by mid-2022. The company will also integrate 30 electric trucks by the end of 2023, enhancing its delivery fleet's carbon footprint. US Foods previously reported a 7.3% reduction in emissions intensity since 2015. The La Mirada site will host one of the largest electric truck deployments in the food service sector. These efforts align with the company’s Corporate Social Responsibility goals focused on people, planet, and products.
US Foods Holding Corp. (NYSE: USFD) has launched the US Foods VITALS program aimed at enhancing operational efficiency for healthcare operators. The program addresses key challenges like labor management, cost optimization, and patient satisfaction. Over 70% of operators highlight employee training and retention as significant issues, while 65% cite customer satisfaction. Operators engaged with VITALS typically see a 5% reduction in operational expenses. The program combines technology, operational expertise, and tailored solutions to improve service delivery and profitability.
US Foods Holding Corp. (NYSE: USFD) announced that CEO Pietro Satriano and CFO Dirk Locascio will participate in a virtual fireside chat at the J.P. Morgan Gaming, Lodging, Restaurant and Leisure Management Access Forum on Monday, March 7, at 2:05 p.m. PST (4:05 p.m. CST). Investors and media can access the live audio webcast through the company's Investor Relations page, with a replay available later that day. US Foods serves approximately 250,000 restaurants and foodservice operators, offering a broad range of food products and business solutions.