Aramark, a food and facilities management company worth an estimated $16 billion, announced Monday the appointment of Thomas Ondrof as CFO. Ondrof succeeds Steve Bramlage, who will stay on as executive advisor until April to assist with the transition.
Ondrof arrives at Philadelphia-based Aramark from Performance Food Group, a foodservice distributor valued at $23 billion, where he served as CFO from 2016 to 2017, and then as strategic growth leader from 2017 to 2019.
- “Tom is a proven financial leader who brings tremendous industry insight and acumen to Aramark,” John Zillmer, Aramark CEO, said. Zillmer, who came on board in October, previously worked with Ondrof at Performance, the Philadelphia Inquirer reported. “I look forward to leading the finance organization and working closely with John and the leadership team to accelerate Aramark’s revenue growth and unlock shareholder value,” Ondrof said.
During his tenure as CFO of Performance Food Group (PFG), Ondrof created multiple working capital and post-IPO strategic financial initiatives. The Richmond, Va.-based distributor had gone public the year before Ondrof signed on as CFO.
Prior to PRG, Ondrof spent nearly 25 years at Aramark rival Compass Group North America, serving in several leadership roles across finance and business development, including as chief development officer, chief strategy officer and CFO.
During his time at Compass, Ondrof spearheaded multi-billion dollar acquisitions, and “helped propel the company to exceptional revenue and profit growth,” according to the Aramark announcement.
At the beginning of his career, Ondrof worked in planning and development at real estate investment trust ITT Rayonier, and as an auditor with PricewaterhouseCoopers.
The hire comes amid a shakeup in Aramark’s c-suite and board. In August, investor Mantle Ridge LP, known for its overhaul of company boards, bought 20% of the company, Philadelphia Business Journal reported. In August, former CEO Eric Ross retired, and in October, four board members left the company.
In November, Aramark reached a $21 million settlement agreement on two proposed employee class-action lawsuits over a 2018 employee-bonus scandal, the Philadelphia Inquirer reported.
A representative from Aramark declined to comment.