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Aramark (NYSE: ARMK) announced the nomination of Patricia E. Lopez and Ken M. Keverian for election to its Board of Directors at the upcoming annual meeting on February 1, 2022. Lopez brings extensive experience in growth and management from her previous role as CEO of High Ridge Brands, overseeing a $350MM business. Keverian, former Chief Strategy Officer at IBM, has a wealth of experience in strategic business development, including a significant $34B acquisition. Current board member Irene M. Esteves will retire, bringing the board's total to 12 members post-election.
Positive
Patricia E. Lopez's diverse experience in growth and management can provide valuable insights.
Ken M. Keverian's strategic vision and experience in digital transformation can enhance the company's direction.
Negative
The retirement of Irene M. Esteves may create a temporary gap in board experience and continuity.
PHILADELPHIA--(BUSINESS WIRE)--
Aramark (NYSE: ARMK), a global leader in food, facilities management, and uniforms, announced today that Patricia E. Lopez and Ken M. Keverian have been nominated for election to the Company’s Board of Directors at its annual meeting of shareholders to be held on February 1, 2022.
Ken M. Keverian nominated to Aramark Board of Directors. (Photo: Business Wire)
Lopez brings diverse experience in sizeable growth, marketing, and general management roles in both developed and emerging markets to the Aramark Board of Directors, most recently serving as CEO of High Ridge Brands, a Clayton, Dubilier & Rice Company, until April 2020, where she managed a $350MM business in the bath, hair care, and oral care categories.
Prior to her tenure with High Ridge Brands, Lopez served as Senior Vice President at Estee Lauder Companies Inc, and before that, as Senior Vice President at Avon Products, Inc. She also held various positions at The Procter & Gamble Co. for 25 years.
Keverian brings decades of experience in business strategy to the Aramark Board of Directors. From 2014-2020, he served as Chief Strategy Officer at IBM with responsibility for the oversight and development of a strategic transformation of IBM, refocusing the company’s commitment to its core business strengths. During his tenure, he helped grow a multi-billion-dollar portfolio in new business revenue, offsetting contraction in older businesses, and was involved in the acquisition of dozens of new businesses, including co-leading a $34B acquisition, the largest in the software industry.
From 1988-2014, Keverian was with Boston Consulting Group (BCG), most recently as a senior partner.
“Both of these candidates bring tremendous analytical insights and thinking to the Aramark Board,” said Steve Sadove, Aramark’s Chairman of the Board. “Ken’s strategic vision, and his understanding of the digital world, will be valuable assets during these times of change and innovation, and Patricia’s balance of creative, strategic, and operational skills will bring new perspective on Aramark’s vast operations and strategic direction. We are looking forward to having both of them join our Board.”
Current Board member Irene M. Esteves is retiring and will not stand for election at the 2022 Annual Meeting of shareholders.
“I want to thank Irene for her numerous contributions during her tenure,” said Sadove. “She has provided valuable insight and strategic perspective to the Board since joining in 2015, and more recently as chair of the Finance Committee.”
Following their election by Aramark’s shareholders at the 2022 Annual Meeting, the Aramark Board will consist of 12 members.
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 with food, facilities, and uniform services. Because our culture is rooted in service, our employees strive to do great things for each other, our partners, our communities, and our planet. Aramark has been named to DiversityInc’s “Top 50 Companies for Diversity” list, the Forbes list of “America’s Best Employers for Diversity,” the HRC’s “Best Places to Work for LGBTQ Equality” and scored 100% on the Disability Equality Index. Learn more at www.aramark.com and connect with us on Facebook, Twitter, and LinkedIn.
Important Information
Aramark intends to file a definitive proxy statement and proxy card with the U.S. Securities and Exchange Commission (the “SEC”) in connection with its solicitation of proxies for Aramark‘s 2022 Annual Meeting of stockholders (the “Proxy Statement” and such meeting the “2022 Annual Meeting”). Aramark, its directors, director nominees and certain of its executive officers may be deemed participants in the solicitation of proxies from stockholders in respect of the 2022 Annual Meeting. Information regarding the names of Aramark’s directors, director nominees and executive officers and their respective interests in Aramark is contained herein or is set forth in Aramark‘s proxy statement for the 2021 Annual Meeting of stockholders, filed with the SEC on December 23, 2020 (the “2020 Proxy Statement”) and additional solicitation materials filed with the SEC related thereto. Information regarding the ownership of Aramark’s directors and executive officers in Aramark stock is included in their SEC filings on Forms 3, 4 and 5, which can be found through the SEC’s website at www.sec.gov. Additional information can also be found in Aramark’s Annual Report on Form 10-K for the fiscal year ended October 1, 2021, filed with the SEC on November 23, 2021. Details concerning the nominees of Aramark’s Board of Directors for election at the 2022 Annual Meeting and more detailed and updated information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the Proxy Statement (and any amendments and supplements thereto) to be filed with the SEC. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND STOCKHOLDERS OF ARAMARK ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH OR FURNISHED TO THE SEC, INCLUDING ARAMARK’S DEFINITIVE PROXY STATEMENT AND ANY AMENDMENTS AND SUPPLEMENTS THERETO WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. These documents, including the Proxy Statement (and any amendments or supplements thereto) and other documents filed by Aramark with the SEC are available for no charge at the SEC’s website at http://www.sec.gov. Copies may also be obtained by contacting Aramark Investor Relations by mail at 2400 Market Street, Philadelphia, Pennsylvania 19103, Attention: Investor Relations.
