March 28, 2023
Andrew Iacobucci is appointed as the senior executive vice president for field operations and chief commercial officer by US Foods.
BUSINESS WIRE — ROSEMONT, Ill. Andrew Iacobucci has been named Senior Executive Vice President, Field Operations, and Chief Commercial Officer, effective immediately, according to a press release from US Foods Holding Corp. (NYSE: USFD). Iacobucci’s new position will see him in charge of the company’s broadline business as well as local sales, commercial excellence, merchandising, marketing, CHEF’STORE, US Foods Direct, and MOX departments. As a member of the organisation’s Executive Leadership Team, he will answer to Chief Executive Officer Dave Flitman.
As Senior Executive Vice President, Field Operations, and Chief Commercial Officer, Andrew will play a crucial part, said Flitman. As he demonstrated throughout his tenure as Interim CEO last year and most recently during my onboarding process, Andrew is a bright, strong, and respected executive. I’m looking forward to working with Andrew in his new position to promote effective implementation of our long-term strategy.
According to Iacobucci, US Foods is on a great trajectory and is providing substantial value to its employees, clients, and shareholders. I’m excited to collaborate with Dave and the rest of the Executive Leadership Team to maintain our momentum in this new position and ready to apply the lessons I’ve learned from my experiences working at US Foods.
Iacobucci joined US Foods in 2017 and most recently worked as the company’s chief transition officer, assisting Flitman with his onboarding and offering advice. From May 2022 to January 2023, he was US Foods’ interim CEO. Before that, Iacobucci served as the company’s Chief Commercial Officer, overseeing the marketing, pricing, and local sales operations. He was the Chief Merchandising Officer before. Iacobucci worked at top Canadian food retailer Loblaw Companies Limited for ten years before joining US Foods. Prior to that, he served as executive vice president of merchandising for retailer Ahold USA. He holds degrees from the University of Toronto Law School and Queen’s University in Kingston, Ontario.
Regarding US Foods
pledging to assist its clients One of the best food firms in the country, Make It, US Foods collaborates with about 250,000 restaurants and foodservice operators to support the growth of their operations. With 70 broadline locations, more than 85 cash and carry locations, and 29,000 employees, US Foods offers its clients a wide variety of cutting-edge foods as well as a full range of e-commerce, technology, and business solutions. The main office of US Foods is in Rosemont, Illinois. See www.usfoods.com for more information.
Future-Looking Remarks
The federal securities laws define “forward-looking statements” as those in this press release that are not strictly historical in character. These statements, which may not all be forward-looking statements, frequently use words like “believe,” “expect,” “project,” “anticipate,” “intend,” “plan,” “outlook,” “estimate,” “target,” “seek,” “will,” “may,” “would,” “should,” “could,” “forecast,” “mission,” “strive,” “more,” and “goal,” and are based on various assumptions and our experience in the industry, as well as historical trends However, you should understand that these statements are not guarantees of performance or results and there are a number of risks, uncertainties and other important factors that could cause our actual results to differ materially from those expressed in the forward-looking statements, including, among others: economic factors affecting consumer confidence and discretionary spending and reducing the consumption of food prepared away from home; cost inflation/deflation and commodity volatility; competition; reliance on third party suppliers and interruption of product supply or increases in product costs; changes in our relationships with customers and group purchasing organisations; our ability to increase or maintain the highest margin portions of our business; achievement of expected benefits from cost savings initiatives; increases in fuel costs; changes in consumer eating habits; cost and pricing structures; the impact of climate change or related legal, regulatory or market measures; impairment charges for goodwill, indefinite-lived intangible assets or other long-lived assets; the impact of governmental regulations; product recalls and product liability claims; our reputation in the industry; labour relations and increased labour costs and continued access to qualified and diverse labour; debt and limitations imposed by the contracts regulating our debt; increase in interest rates; substitution of the London Interbank Offered Rate (“LIBOR”) with a different benchmark rate; disruption of new and existing technologies; cyberattacks and other technology disruptions; risks related to intellectual property, including potential infringement; successful integration of acquired businesses; conflicting interests of shareholders; potential costs of shareholder activism;
See the section titled “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 for a more in-depth discussion of these risks, uncertainties, and other variables that could cause our results to materially differ from those anticipated or expressed in any forward-looking statements. Current, quarterly, and annual reports submitted by the Company to the SEC, which are accessible on the SEC’s website at www.sec.gov, occasionally address additional risks and uncertainties. We also work in a highly competitive environment that is changing quickly, so new risks and uncertainties occasionally pop up. It is impossible to foresee all risks or identify all uncertainties. The news release’s forward-looking statements are based on data and projections that are currently available to us, and they only apply as of the release date. Except as may be required by law, we disclaim any obligation to update or modify any forward-looking statements.
March 13, 2023
