Sodexho

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Sodexho Alliance, or simply Sodexho, (Euronext: SW, NYSE: SDX) is a French multinational corporation and one of the largest foodservice companies in the world. It is present in 76 countries.

It was founded in Marseille in 1966 by Pierre Bellon as the Societé d'Exploitation Hotelière ("company that provides services used by hotels,") Since 2003, it has been directed by Jean-Michel Dhenain and Michel Landel.

Sodexho notably operates cafeterias in companies, public agencies, institutions, schools, colleges, universities, hospitals, assisted-living facilities, corporate cafeterias, United States military messhalls, and even private prisons. Much of the food served at the Sodexho cafeteria at a Texas Campbell Soup location is actually provided to the cafeteria by Campbell Soup. However, the company's activities in private prisons and in schools have given to rise to considerable controversy and a boycott by over sixty US colleges and institutions. [1] The film Super Size Me criticized Sodexho's policies on child nutrition in their client schools, featuring Madison Junior High School (Naperville, Illinois) to make its point. There is at least one know boycott of Sodexho, namely at the School of Oriental and African Studies (University of London) due to its partnerships with the US Military and low pay and working conditions. Sodexho's turnover for the year ended 31 August 2004 was €11.245 billion.

Sodexho is now fast growing in the areas of plant operations, housekeeping and mailrooms.

Since 2003, Sodexho has co-sponsored a study with the U.S. Conference of Mayors on hunger in American cities. [2]

Sodexho is the delivery service of choice for the Home Office in the UK allowing them to outsource their responsibility to provide financial support to vulnerable refugees.

[edit] Corporate governance

Current members of the board of directors of Sodexho are: Rémi Baudin, Robert Baconnier, Patricia Bellinger, Astrid Bellon, Bernard Bellon, François-Xavier Bellon, Pierre Bellon, Sophie Clamens, Paul Jeanbart, Charles Milhaud, François Périgot, Nathalie Szabo, Peter Thompson, and Mark Tompkins.

[edit] History

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1966

Pierre Bellon launches Sodexho, in Marseille, founded on the Bellon family's experience of more than 60 years in maritime catering for luxury liners and cruise ships. Operations initially serve staff restaurants, schools and hospitals.

1968

Operations commence in the Paris area.

1971-1978

International expansion begins with a contract in Belgium. Development of the Remote Site Management business, first in Africa, then in the Middle East. Sodexho's Service Voucher business enters.

1983

Initial public offering of Sodexho shares on the Paris Bourse.

1985-1993

Sodexho establishes activities in the Americas, Japan, South Africa and Russia, and reinforces its presence in the rest of Central Europe.

1995

Sodexho becomes the world market leader in food service thanks to alliances with Gardner Merchant in the UK and Partena in Sweden.

1997

The group's holding company changes its name to Sodexho Alliance. Sodexho Alliance joins forces with Universal Ogden Services, the leading remote site service provider in the United States.

1998

Sodexho Alliance shares are accepted into the Paris Bourse. Founding of Sodexho Marriott Services, with Sodexho holding 48.4 percent of the outstanding shares. The new company is the North American market leader for food and management services.

2000

Albert George is appointed Chief Operating Officer of Sodexho Alliance. Sodexho Alliance and Universal Services merge to form Universal Sodexho, becoming the leader in remote site management.

2001

Sogeres (France) and Wood Dining Services (USA) join Sodexho Alliance. Sodexho acquires 53 percent of the share capital of Sodexho Marriott Services, which changes its name to Sodexho, Inc.

2002

In April 3, 2002, Sodexho Alliance shares are listed on the New York Stock Exchange.

2003

Jean-Michel Dhenain and Michel Landel are appointed Group Chief Operating Officers, succeeding Albert George.

2004

The succession plan for Pierre Bellon is put into place. The Board of Directors announces that effective on September 1, 2005, the Chairman of the Board and the Chief Executive Officer will become separate functions.

2005

In September 1st, 2005, Michel Landel becomes Chief Executive Officer and Pierre Bellon continues as Chairman of the Board.