Cintas Announces the Retirement of Founder and Chairman Emeritus Richard T. Farmer
CINCINNATI--(BUSINESS WIRE)--Aug 3, 2018--Cintas Corporation (NASDAQ: CTAS) today announced that Richard T. Farmer has informed the company’s board of directors that he will not seek re-election to Cintas’ board. Mr. Farmer will retain the chairman emeritus title but will not take part in board meetings or other activities after October 30, 2018.
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Cintas Founder and Chairman Emeritus Richard T. Farmer (Photo: Business Wire)
Mr. Farmer created Cintas from a family-owned business processing shop towels in Cincinnati, OH. Soon after graduating college in 1956, Mr. Farmer joined his family’s business as a sales representative. He was eventually named president of the company. In 1968, Mr. Farmer left the family business to test a new concept that involved unique fabrics and processing systems for uniforms which ultimately revolutionized the entire industry. Within two years, Mr. Farmer’s new company, Satellite Corporation, was so successful that it acquired the family business. In the mid-1970s, Satellite was renamed Cintas Corporation. With a strong appetite for growth and a strong record of performance, the company went public in 1983. Mr. Farmer served as CEO through 1995 and as board chairman through 2010. Since that time, he has held the title of chairman emeritus.
Today Cintas is a Fortune 500 company with revenue of $6.47 billion. The company employs 43,000 employee-partners in more than 400 locations across the US and Canada. The corporate culture Mr. Farmer instituted is a key component of the company’s long term success and includes a focus on customer-driven innovation, professionalism and exceeding the expectations of customers, shareholders and working employee-partners.
“My father has been the heart and soul of Cintas for many years,” said Cintas Chairman and CEO, Scott D. Farmer. “His vision and commitment have helped the company thrive and positioned it for even greater success in the future.”
About Cintas Corporation:
Cintas Corporation helps more than 1 million businesses of all types and sizes get Ready® to open their doors with confidence every day by providing a wide range of products and services that enhance our customers’ image and help keep their facilities and employees clean, safe and looking their best. With products and services including uniforms, floor care, restroom supplies, first aid and safety products, fire extinguishers and testing, and safety and compliance training, Cintas helps customers get Ready for the Workday®. Headquartered in Cincinnati, Cintas is a publicly held Fortune 500 company traded over the Nasdaq Global Select Market under the symbol CTAS and is a component of the Standard & Poor’s 500 Index.
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CONTACT: Cintas Corporation
Michelle Goret, 513-573-4155
Vice President of Corporate Communications
J. Michael Hansen, 513-701-2079
Executive Vice President & Chief Financial Officer
KEYWORD: UNITED STATES NORTH AMERICA CANADA OHIO
INDUSTRY KEYWORD: EDUCATION OTHER EDUCATION ONLINE RETAIL HOME GOODS OFFICE PRODUCTS MANUFACTURING CHEMICALS/PLASTICS PACKAGING TEXTILES OTHER MANUFACTURING PROFESSIONAL SERVICES HUMAN RESOURCES OTHER PROFESSIONAL SERVICES RETAIL FASHION TRAINING SPECIALTY SUPERMARKET OTHER RETAIL
SOURCE: Cintas Corporation
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PUB: 08/03/2018 08:30 AM/DISC: 08/03/2018 08:31 AM