Philadelphia-based Aramark said CFO Tom Ondrof will be succeeded by Jim Tarangelo following Ondrof’s retirement announcement.
Ondrof will retire from his current position on Jan. 12, at which time he will move to a position as strategic advisor. Tarangelo, Aramark’s senior vice president of finance and treasurer, will step into the CFO role on Jan. 13, officials said.
“Tom leaves a strong legacy that’s both broad and deep,” John Zillmer, Aramark’s Chief Executive Officer, said. “When I asked him to join Aramark shortly after my return, he left a hard-earned retirement to help us create and drive a successful growth strategy based on our hospitality culture, focused on accelerating net new business, optimizing supply chain economics, containing above unit costs, and instilling a value-creating mindset across the organization.”
Ondrof joined the company four years ago.
“My goal… was to help put the Company on a path to deliver consistent top-line growth, increased profitability, and financial flexibility, while strategically reviewing the portfolio, which eventually included the successful spin-off of the Uniforms business in September,” Ondrof said. “We have taken the steps to re-position Aramark on a foundation built for long-term, sustainable performance, and I want to thank the team for their ongoing commitment to Aramark’s success. Jim has been an essential partner in these achievements, and I have full confidence that I am leaving the role in very capable hands.”
Tarangelo has been with the company for 20 years and currently leads the company’s global treasury and capital markets operations, as well as financial planning and analysis, merges and acquisitions and tax operations. Before joining Aramark, Tarangelo was at PricewaterhouseCoopers and Legg Mason within investment banking. He is a graduate of Lafayette College and has an MBA from the Wharton School of the University of Pennsylvania.
“This appointment demonstrates our strong bench talent and thoughtful succession planning,” Zillmer said. “I look forward to having Jim assume this role, given his proven track record and close collaboration with Tom over the past four years. His understanding of the nuances of our business, and his commitment to the success of the Company, make him the right fit for the job as we continue to execute on our strategy. We are off to a strong start to the fiscal year and remain confident in our full-year outlook.”