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Posted 11 August, 2023

Aramark appointed new CEO

CEO Change detected for ticker NYSE:ARMK in a 8-K filed on 11 August, 2023.


  On August 9, 2023, Paul C. Hilal, the Vice Chairman of the board of directors (the "Board") of Aramark (the "Company") and the Chief Executive Officer of Mantle Ridge LP, resigned from the Board immediately prior to the execution of the underwriting agreement in connection with the Offering described below.  

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Overview of Aramark
Leisure/Arts/Hospitality • Restaurants
Aramark engages in the provision of food, facilities, and uniform services. It operates through the following segments: Food and Support Services United States (FSS United States), Food and Support Services International (FSS International), and Uniform and Career Apparel (Uniform). The FSS United States segment offers food, hospitality and facility services for school districts, colleges and universities, healthcare facilities, businesses, sports, entertainment and recreational venues, conference and convention centers, national and state parks, and correctional institutions. The FSS International segment covers food, refreshment, specialized dietary, and support services, facility maintenance and housekeeping. The Uniform segment consists of the rental, sale, cleaning, maintenance, and delivery of personalized uniforms and other textile items. The company was founded in 1959 and is headquartered in Philadelphia, PA.
Market Cap
$8.14B
View Company Details
Aramark by TradingView
Relevant filing section
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 

On August 9, 2023, Paul C. Hilal, the Vice Chairman of the board of directors (the "Board") of Aramark (the "Company") and the Chief Executive Officer of Mantle Ridge LP, resigned from the Board immediately prior to the execution of the underwriting agreement in connection with the Offering described below. Mr. Hilal was designated by Mantle Ridge LP to serve on the Board pursuant to that certain Stewardship Framework Agreement, dated as of October 6, 2019 (the "Stewardship Framework Agreement"), by and between the Company and MR BridgeStone Advisor LLC ("Mantle Ridge"), on behalf of itself and its affiliated funds. Mr. Hilal's decision to resign was not because of any disagreement with the Company and Mantle Ridge has waived its right to appoint a successor director under the Stewardship Framework Agreement.