Sysco adds two directors, targets AI-driven cost savings of $100M

Sysco Corporation (NYSE: SYY) announced the election of two new members to its board of directors and outlined a $100 million cost-savings program tied to artificial intelligence initiatives, according to a company statement.

Jason Murray, co-founder and chief executive of Shipium Corp. and a 19-year Amazon veteran, and Thomas Ondrof, former executive vice president and chief financial officer of Aramark Corporation, will join the board effective September 1, 2026. The additions bring the board's total size to 13 directors. Murray will serve on the company's newly renamed Artificial Intelligence Transformation & Technology Committee, while Ondrof will serve on the Audit Committee.

The board approved renaming its Technology Committee to the Artificial Intelligence Transformation & Technology Committee, which will meet monthly with management to oversee the company's AI initiatives.

Sysco said the $100 million cost-savings target is included in its fiscal 2027 guidance, issued August 4, 2026, which calls for revenue growth of 6% to 7% and adjusted earnings per share growth of 9% to 11% on a 53-week basis.

The company also noted that D. E. Shaw group, described as a Sysco investor for more than a decade, currently expects to participate in a capital raise related to Sysco's pending acquisition of Jetro Restaurant Depot. D. E. Shaw managing director Michael O'Mary said the firm is "confident in the value creation opportunities ahead, including the Restaurant Depot acquisition."

Sysco operates 333 distribution centers across 10 countries and reported sales of more than $84 billion in fiscal year 2026, which ended June 27, 2026.

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