Leonard Resigns at Aramark
ONTRACT SERVICES
HEADNOTENeubauer back at helm as CEO and chairman.
At FM press time in late September, Aramark Corp.
Ttie resignation came a month after the company reported fiscal third-quarter earnings below expectations, citing higher costs for labor and new customer contracts, which squeezed profit margins. Aramark said such costs would persist into the fourth quarter, which ended September 30.
Aramark spokeswoman Middle Davidson says the board accepted Leonard's resignation in a "mutual decision" stemming from both business and personal reasons. The decision was related to "business performance and the board's assessment of the next wave of leaders" at Aramark, she said.
Neubauer was Aramarks chairman/CEO from 1984, when he led a group of employees who purchased the company to prevent a hostile takeover, until last October, when Leonard-then president/COO of the company-was named CEO. Neubauer, 62, is one of Aramark's biggest shareholders, with 31 percent of its Class A shares. He has agreed to serve as chairman/CEO for at least three years.
In addition, make sure to read these articles:
- in brief
- in brief
- Business GOES NATIVE.
- Making his aramark
- ARAMARK Expands Global Reach With New Joint Venture;New Entry into Ireland, Europe's...
- Binswanger/CBB: Aramark Commits to Philadelphia.
- ARAMARK Names von der Heyden to Board of Directors.
- ARAMARK to Host Investor Meeting.
- Top Industry Leaders Headline First Ever Philadelphia Mergers & Acquisitions...
- ARAMARK Chefs Honored During International Exchange Program; Selected Company Chefs Span...
- ARAMARK To Acquire the Wackenhut Corporation'sFood Service Business.
- Fitch Downgrades ARAMARK's IDR to 'B' & Rates Sr. Notes 'B-/RR5'.
- ADVISORY/Photos of Joseph Neubauer and Michael Craneregarding Olympic Games announcement...
- ARAMARK Employees Across the U.S. Answer Call toService.
- ARAMARK Named One of the "Top 30 Companies for Minorities".
Email
Digg It
del.icio.us
Sponsored Links
Site Map | Contact Us | FAQ's | About Us | Media Kit | Reprints | RSS Directory | Sign Up for Free Newsletters | Disclosure Policy
Copyright © 1999 - 2008 AllBusiness.com, Inc. All rights reserved.
No part of this content or the data or information included therein may be reproduced,
republished or redistributed without the prior written consent of AllBusiness.com.
Use of this site is governed by our Copyright and Intellectual Property Policy, Terms of Use Agreement and Privacy Policy.
Provided by ProQuest Information and Learning. All rights Reserved.
You may not repost, republish, reproduce, package and/or redistribute the content of this page,
in whole or in part, without the written permission of the copyright holder.
Online Business Database | Online Business Information | Email Marketing Lists | Sales and Marketing Solutions | Business Mailing Lists
