Fred Sutherland to Retire Following 17 Years as CFO
PHILADELPHIA, PA – Aramark (NYSE: ARMK), the $15 billion global provider of award-winning services in food, facilities management and uniforms, announced today that Stephen P. Bramlage, Jr., 44, has been named Executive Vice President and Chief Financial Officer. His appointment is effective April 6, 2015 and he will report to Chairman, President and Chief Executive Officer, Eric Foss. Bramlage succeeds Executive Vice President & Chief Financial Officer Fred Sutherland, 63, who will retire after nearly 35 years with the company, including 17 years as CFO. Sutherland will remain with Aramark through December, 2015 to ensure a seamless transition.
“Steve is a seasoned, global financial executive who brings a deep and wide ranging array of public company expertise and experiences to Aramark as we continue our strategic transformation journey to drive sustainable, long-term shareholder value,” said Foss. “He has earned a reputation as a strong and versatile leader who consistently demonstrates the financial and business acumen that make him uniquely qualified to be our next CFO.”
Bramlage will join Aramark’s senior leadership team as they continue the transformation under Foss’s leadership to accelerate profitable growth by improving operating capabilities and capturing additional productivity to expand margins.
As CFO, Bramlage assumes responsibility for leading the company’s financial management and other related functions, including: financial planning and reporting, accounting and tax, audit, treasury, mergers and acquisitions, investor relations, information technology, shared services and risk & safety. He will be based at Aramark’s world headquarters in Philadelphia.
Throughout his career Bramlage has gained extensive knowledge in all aspects of finance in businesses with significant scale and complexity. He joins Aramark from Owens-Illinois, Inc. (O-I), where he spent nine years and has served as Chief Financial Officer since 2012 with responsibility for the company’s overall finance, business development and strategy. Prior to being named CFO, Bramlage steadily progressed through numerous roles spanning corporate finance and treasury. He also served in key management positions in the company’s business operations, including President of O-I Asia Pacific and General Manager of O-I New Zealand. Bramlage’s background also includes finance-related leadership jobs at PPG Industries, Inc. and Eli Lilly. He started his career as an auditor for Ernst & Young, LLP.
"I want to thank Fred Sutherland for his many significant contributions to Aramark, including the recent completion of our successful return to being a public company," said Foss. "He has been an invaluable partner, advisor and friend and I congratulate him on a very impressive career. His commitment to continue advising us until the end of this year speaks volumes about his loyalty to Aramark that has spanned decades."
About Bramlage
Bramlage graduated from Northwestern University’s J.L. Kellogg Graduate School of Management and received an MBA in Finance, Management and Strategy, and earned a B.S. in Business Administration from the University of Dayton.
About Aramark
Aramark (NYSE: ARMK) proudly serves the world’s leading educational institutions, Fortune 500 companies, world champion sports teams, prominent healthcare providers, iconic destinations and cultural attractions, and numerous municipalities in 19 countries around the world with food, facilities, and uniform services. Because our culture is rooted in service, our employees strive to do great things for each other, our partners, our communities, and our planet. Aramark has been named to DiversityInc’s “Top 50 Companies for Diversity” list, the Forbes list of “America’s Best Employers for Diversity,” the HRC’s “Best Places to Work for LGBTQ Equality” and scored 100% on the Disability Equality Index. Learn more at www.aramark.com and connect with us on Facebook, Twitter, and LinkedIn.
