Sodexo Names Denis Machuel CEO

Sodexo S.A. said Tuesday that Denis Machuel has been named chief executive by the company's board, succeeding Michel Landel, who has announced his plan to retire in January 2018. Sodexo provides a variety of services, including cleaning, facilities and meal services to 75 million daily consumers, the company said. Machuel is currently chief digital officer of Sodexo and the chief executive of benefits and rewards services and personal and home services. The transition plan calls for him to become deputy CEO on Sept. 1, working alongside Landel. Landel will remain on the board until his term is up in January 2020. Sodexo shares are up 0.8% in Tuesday trading and are up nearly 17% for the past three months. The S&P 500 index is up 2.2% over the past three months.