US Foods Holding Corp.

Thank you for standing by and welcome to the first quarter 2022 earnings call. At this time, all participant lines are in listen-only mode. After the speaker's presentation, there'll be a question and answer session. To ask a question during the session, you'll need to press star one on your telephone. Please be advised that today's conference is being recorded. If you require any further assistance, please press star zero. I would now like to hand the conference over to your speaker today, Snehal Shah, Senior Director of Investor Relations. Thank you. Please go ahead, sir.

Thank you, Suzanne. Good morning, everyone. Welcome to our first quarter earnings call. On the call today, we have Bob Dekowski, our Executive Chair, Andrew Iacobucci, Interim Chief Executive Officer, and Dirk LoCascio, our Chief Financial Officer. Additionally, like last quarter, Bill Hancock, our Chief Supply Chain Officer, will join for our Q&A session. We will take your questions after our prepared remarks conclude. Please provide your name, your firm, and limit yourself to one question, please. During today's call and unless otherwise stated, we're comparing our first quarter results to the same period in fiscal year 2021. Our earnings release issued earlier this morning and today's presentation slides can be accessed on the investor relations page of our website. In addition to historical information, certain statements made during today's call are considered forward-looking statements. Please review the risk factors in our 2021 Form 10-K for a detailed discussion of these potential factors that could cause our actual results to differ materially from those anticipated in those statements. Lastly, during today's call, we will refer to certain non-GAAP financial measures. All reconciliations to the most comparable GAAP financial measures are included in the schedules on our earnings press release, as well as in the appendices to the presentation slides posted on our website, except that we are not providing reconciliations to forward-looking non-GAAP financial measures as indicated therein. I'll now turn the call over to Bob.

Thanks, Nahal, and good morning to everyone. Before we dive into the quarter and the progress on our plan, I want to spend a few minutes on the two announcements we shared earlier this week. We're pleased to have reached an agreement with SACIMHED and bring an end to the proxy contest. The board welcomes Scott Ferguson, David Toye, and Jim Barber as new independent directors and looks forward to their insights and input as we focus on the continued execution of our long-range plan. And as we do, Our chief commercial officer, Andrew Iacobucci, has agreed to step into the interim CEO role as the board conducts a search for a permanent successor to Pietro Satriano, who left the company. On behalf of the entire board, I want to thank Pietro for his dedication and leadership to U.S. Foods over the last 11 years and for guiding the company through the pandemic. We will work with urgency on the search for a permanent CEO successor but take the time needed to find the right person. Andrew joined U.S. Food in 2017 and has been integral to our efforts around driving profitable market share gains and optimizing gross margin, which are two pillars of our long-range plan. He also has worked extensively with Bill Hancock on our supply chain efficiency initiatives in the third optimization pillar. He is a proven leader, and the Board and I are confident the business is in great hands with Andrew at the helm. In my new role as Executive Chair, I look forward to working alongside Andrew and the rest of the management team to ensure that we build on our momentum and maintain our strong execution of our strategic initiatives. On today's call, Dirk will discuss our first quarter results, capital structure, and macroeconomic environment before Andrew walks you through the progress we're making on our long-range plans, as well as our outlook. And as Snehal mentioned, Bill Hancock will join for Q&A session. Finally, I want to thank all of our associates for their focus and commitment to serving our customers and driving U.S. foods performance. With that, I'll turn it over to Dirk.