Press release
Scott D. Farmer to Retire as Cintas Corporation CEO on May 31; Todd M. Schneider Elected New CEO & President, Effective June 1
Farmer to Remain Executive Chairman of the Board, while Schneider Will Join Expanded Board as Member MEDIA USE ASSETS – DOWNLOAD HERE: Farmer, Schneider
About this update from Cintas Corporation
[{"type":"text","content":"\nFarmer to Remain Executive Chairman of the Board, while Schneider Will Join Expanded Board as Member\n\nMEDIA USE ASSETS – DOWNLOAD HERE: Farmer, Schneider Images\n\n CINCINNATI--(BUSINESS WIRE)--\nCintas Corporation (NASDAQ:CTAS) today announced Scott D. Farmer, Cintas Chairman & Chief Executive Officer, will retire as CEO on May 31, 2021. Mr. Farmer will remain Executive Chairman, a role he has held since 2016.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210401005214/en/Scott D. Farmer will retire as CEO of Cintas Corporation (NASDAQ:CTAS) on May 31, 2021, and remain on as Executive Chairman of the Board. He has been a Cintas employee-partner for 40 years, the last 18 as CEO. (Photo Credit: Courtesy of Cintas Corporation)\nThe company also announced that its Board of Directors has increased the number of Directors from 8 to 9 and elected Todd M. Schneider as Chief Executive Officer & President and a Director of the company, effective June 1, 2021.\n\n“It has been a great privilege to serve as Cintas’ CEO for 18 years. The company has grown and changed significantly over that time but our core values and the culture that binds our employee-partners together has remained a steady foundation for the success Cintas has achieved,” Mr. Farmer said. “I am proud of our many collective accomplishments, including the innovative products and services we provide our customers as well as the tremendous dedication of our employee-partners. Our company is in a position of financial strength, with a strong and experienced leadership team executing a proven strategy that has allowed our continued success even through the recent pandemic, making this the appropriate time for an orderly transition.”\n\nUnder Mr. Farmer’s leadership the company’s revenue grew from $2.69 billion in 2003 to more than $7 billion at the end of its previous fiscal year. Cintas Lead Director, Joe Scaminace said, “Scott has done a great job leading Cintas through years filled with challenges, change and opportunities, including the Great Recession and the recent pandemic as well as the integration of SAP technology across the organization at the same time the company was integrating its largest acquisition to date, G&K Services. The entire Cintas Board of Directors thanks Scott for his service to the co...