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Sysco exec chairman Manuel Fernandez to retire

HOUSTON (AP) -- Food distributor Sysco Corp. said Monday that its Executive Chairman Manuel A. Fernandez will retire when the company has its annual meeting on Nov. 15. The Houston company's board will elect an independent chairman by then.

Fernandez, who has been a board member for 7 years, was named executive chairman in April 2012. Before that, he was chairman of the board since 2009.

Shares fell 20 cents to close at $31.83. The stock has traded between $29.75 and $36.05 over the past year.