Sodexo

Sodexo (formerly Sodexho Alliance) is a French food services and facilities management company headquartered in the Paris suburb of Issy-les-Moulineaux.[2] Sodexo is one of the world's largest multinational corporations, with 420,000 employees that represent 130 nationalities and are present on 34,000 sites in 80 countries. For fiscal year 2010 (ending August 2009) revenues reached 15.3 billion euros, with a market capitalization of 6.5 billion euros. Revenues by region represent 38% in North America, 37% in Continental Europe, 8% in the UK and Ireland, and 17% elsewhere. Sodexo serves many sectors, including private corporations, government agencies, schools from preschool through university (including seminaries and trade schools), hospitals and clinics, assisted-living facilities, military bases, and prisons. As of 2016 subsidiary Sodexo Justice Services operated support services in 122 prisons in eight countries, including 42 in the Netherlands, 34 in France, and others in Belgium, Italy, Spain, and Chile, as well as running 5 prisons directly in the UK.[3][4] Contents 1 History 2 Financial figures (2009–2010) 3 Food services and facilities management 4 Service vouchers and cards 5 Name change 6 Controversy 7 Management study 8 See also 9 References 10 External links History[edit] The company was launched in 1966 by Pierre Bellon (Chairman) in Marseille, France, initially serving company restaurants, schools and hospitals under the name Société d'Exploitation Hotelière (English: Hotel Services Corporation). Today Sodexo is on the Fortune Global 500 list[5] and the second largest employer among all French multi-national corporations. Throughout the 1970s, the company expanded in France and internationally; first in Belgium, then Africa, and finally the Middle East. After an initial public offering on the Paris Bourse in 1983, the firm continued its expansion into North America, South America, Japan, South Africa and Russia. Between 1995 and 2001, Société d'Exploitation Hotelière's holding company changed its name to Sodexho Alliance, and the company forged alliances with Gardner Merchant, Partena, Sogeres, Wood Dining Services and Universal Ogden Services. In 2000 Sodexho Alliance became the leader in remote site management after a merger with Universal Ogden Services.[6] In 1998, Sodexho merged with Marriott Management Services, at the time one of the largest food services companies in North America. Included in the merger was a name change to Sodexho Marriott Services.[clarification needed] The merger helped the company become one of the largest food services providers in the United States.[6] In 2002, Sodexho was listed on the New York Stock Exchange, but the company withdrew its listing in 2007.[7] As of 2017, the company is listed on Euronext Paris under symbol SW[8] and trades stocks OTC under SDXOF[9] and SDXAY.[10] In 2005, Michel Landel was appointed Chief Executive Officer, succeeding Pierre Bellon, who continues as Chairman of the Board of Directors. In the summer of 2006, the company made headlines for concluding a deal with retired NBA Hall of Famer and entrepreneur, Magic Johnson and Magic Food Provisions, a subsidiary of Magic Johnson Enterprises. The initiative includes a marketing agreement and the formation of SodexhoMAGIC, LLC, a new joint venture that is 51 percent owned by Johnson.[11] Since January 2016, its United States operations have been headed by Lorna C. Donatone, Region Chair for North America and CEO of Schools worldwide. In 2007, Sodexho launched its catering arm in United Kingdom schools, using the brand name "For you...". In August 2009, Sodexo acquired the in-home care services company, Comfort Keepers.[12][13] Comfort Keepers provides non-medical, in-home care for adults and seniors. It is an international franchise system with locally owned and operated franchise offices, and is headquartered in Dayton, Ohio. The company was launched in 1998.[14] Comfort Keepers franchises are located throughout the United States, Canada, Australia, France, Ireland, Portugal, Singapore, and the United Kingdom. As of June 2016, Comfort Keepers had 500 franchisees running 750 offices in the United States and internationally.[15] Comfort Keepers was named by INC. Magazine as one of the fastest-growing franchise systems in the United States in 2007.[16] In 2016, Comfort Keepers was ranked number seven by Forbes as a "Top Franchise to Buy" in the lowest investment category.[17] The DiversityInc Top 50 Companies for Diversity is the leading assessment of diversity management in the US economy and globally. In 2010, Sodexo ranked number one. According to the report,[18] Sodexo "has led every other company in its ability to implement measure and assess strong internal diversity initiatives". In 2010, Sodexo entered into two new partnerships: the first one with United Coffee, who will supply Sodexo with machines as well as fair-trade certified coffees; the other one with Numi, from which Sodexo has selected 100% organic teas.[citation needed] In 2011, Sodexo entered an eight-year contract with the US government, by which the company committed itself to provide food services to 51 United States Marine Corps mess halls.[19] In a 2018 shareholders meeting, Denis Machuel replaced Michel Landel as CEO.[20] Financial figures (2009–2010)[edit] Sodexo reported revenues of €15.3 billion in the 12 months ended February 2010 and an organic growth of 0.4%.[citation needed] It benefits from a Corporate Credit Rating of BBB+ (Standard & Poor).[citation needed] Food services and facilities management[edit] Crossroads Cafe at LaBelle High School, operated by Sodexo.[21] Sodexo typically sets up various stations offering different foods in its cafeterias, as can be seen in the photo.[22] Sodexo offerings range from food service operations including staff restaurants, catering, executive dining, vending, and meal delivery, to integrated facilities management services that include both soft services (reception, concierge, cleaning, pantry, laundry, groundskeeping, waste management, vendor management, etc.) and hard services (HVAC system, electrical systems including substations up to 220kV, energy efficiency & sustainability services, plumbing/water treatment plant/sewage treatment plant operation, annual equipment operation & maintenance contracts, project management, etc.). Service vouchers and cards[edit] One of the top-two companies worldwide in this sector,[citation needed] Sodexo provides companies and public authorities with meal passes, restaurant vouchers, mobility passes, leisure passes, book cards, and training vouchers. In China and the US, it operates a stored-value card system in cooperation with multiple restaurants. Freedompay is used to power some of these deployments [23] Name change[edit] The company changed its official name from Sodexho Alliance to simply Sodexo after a shareholder vote at the company's annual general meeting on 22 January 2008.[24] The reason for removing the letter 'h' from Sodexho, cited in the group's 2007 annual report, is that "in certain languages an 'x' followed by an 'h' is difficult to pronounce". The company's corporate website also states that it draws emphasis away from the hotel services industry they were once associated with, as they now focus on many other directions. The Sod part of the name remains unchanged. The logo of the company was also changed, dropping the five stars to a single star. The bar of the letter 'x' is also now curved, like a smile, supposedly suggestive of the company's claimed desire to constantly seek and increase the satisfaction of their clients.[24]