Sysco's chief executive Richard Schnieders retiring

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HOUSTON — Richard J. Schnieders, Sysco Corp.’s chairman and chief executive, announced he would step down as c.e.o. on March 31 and he will retire completely on June 27, according to The Associated Press. Mr. Schnieders will be replaced as chief executive by Bill DeLaney, 53, Sysco's executive vice president and chief financial officer.

Ken Spitler, company president and chief operating officer, was promoted to vice chairman of the board of directors and he will also keep his current titles. Mr. DeLaney will continue to serve as CFO until a replacement is named.

Houston-based Sysco said in November its first-quarter profit increased 4%, while revenue rose 5% to $9.88 billion.

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