Dive Brief:
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Chris Kreidler is expected to leave his position as Sysco's CFO at the end of August. He will be replaced by Joel T. Grade, chief accounting officer since 2014, who began his career at Sysco as a staff auditor in 1996.
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Sysco is in the process of trying to close its deal for US Foods Inc. The merger is expected to undergo tough antitrust scrutiny starting next month. If the two largest U.S. food distributors merge, the FTC contends the result will be higher prices for customers.
- Sysco Corp. says Kreidler is relocating to the Northeast to spend more time with his family.
Dive Insight:
The timing is interesting. The FTC's antitrust hearing is set for May 5-8. The hearing could determine whether the lawsuit or the merger will move forward. Sysco's acquisition of US Foods has been contentious dating back to its announcement a year ago. With Kreidler expected to stay on until the end of August and then serving as a consultant after that, he should still be a major player in the mega deal.