Performance Food Group Company (NYSE:PFGC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 7.01. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of Mr.James Hope to Executive Vice President and Chief Financial Officer
On December14, 2017, Thomas G. Ondrof, Executive Vice President and Chief Financial Officer of the Company notified the Company of his intention to resign from his position as Executive Vice President and Chief Financial Officer, effective March1, 2018. Following the transition period, Mr.Ondrof will serve as Strategic Growth Leader of the Company. The Board appointed James Hope, 57, as Executive Vice President and Chief Financial Officer of the Company, effective March1, 2018.
In connection with Mr.Hope’s appointment to Executive Vice President and Chief Financial Officer, Mr.Hope’s annual base salary will be increased to $600,000, effective March1, 2018; and his fiscal 2018 annual bonus will be prorated to reflect his annual base salary prior to March1, 2018 and his revised annual base salary on and following March1, 2018.
Prior to being appointed as our Executive Vice President and Chief Financial Officer, Mr.Hope has served as our Executive Vice President, Operations since July 2014. Prior to joining the Company, he was with Sysco Corporation for approximately 30 years, most recently as Executive Vice President, Business Transformation from January 2010 to June 2013.
There are no arrangements or understandings between Mr.Hope and any other persons to which he was elected to serve as Executive Vice President and Chief Financial Officer and there are no family relationships between Mr.Hope and any director or executive officer of the Company. Mr.Hope has no direct or indirect material interest in any transaction required to be disclosed to Item 404(a) of Regulation S-K.
In connection with Mr.Ondrof’s appointment as Strategic Growth Leader of the Company, the Company entered into a letter agreement (the “Letter Agreement”) with Mr.Ondrof that provides that Mr.Ondrof will serve as Strategic Growth Leader of the Company beginning on March1, 2018. Under the Letter Agreement, Mr.Ondrof (i)is entitled to an annual base salary of $160,000, effective March1, 2018; and (ii)is eligible to receive his fiscal 2018 annual bonus prorated to reflect his annual base salary prior to March1, 2018 and his revised annual base salary on and following March1, 2018.
| Item 7.01 | Regulation FD Disclosure. |
On December15, 2017, the Company issued a press release announcing the Chief Financial Officer transition. A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1.
The information in this Exhibit 99.1 is being furnished to Item 7.01 of Form 8-K and shall not be deemed to be “filed” for purposes of Section18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
| Item 7.01. | Financial Statements and Exhibits. |
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Exhibit |
Description |
| 99.1 | Press Release of Performance Food Group Company. |
Performance Food Group Co ExhibitEX-99.1 2 d507073dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 12500 West Creek Parkway Richmond,…To view the full exhibit click here
About Performance Food Group Company (NYSE:PFGC)
Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products. The Company operates through three segments: Performance Foodservice, PFG Customized and Vistar. The Performance Foodservice segment distributes a range of national brands, customer brands, and branded food and food-related products. It sells to independent or street, and multi-unit or chain, restaurants and other institutions. Its PFG Customized segment provides service to family and casual dining restaurant chains, and fast casual and quick service restaurant chains. Its Vistar segment specializes in distributing candy, snacks, beverages and other items nationally to the vending, office coffee service, theater, hospitality and other channels. Its products include a range of frozen foods, such as meats, fully prepared appetizers and entrees, and desserts; a range of canned and dry foods; fresh meats; dairy products; beverage products, and snack and other products.
