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  "documentTitle": "US Foods Holding Corp. (USFD)",
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  "authorName": "Scott Ferguson",
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  "presentationDate": "2022-04-26 00:00:00",
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  "notes": "This is a text-heavy shareholder letter page outlining the case for board change.",
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      "text": "The key question for stockholders is this: Who do you believe will make US Foods deliver?",
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      "text": "EBITDA: 20%",
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      "text": "Bad-faith engagement has further demonstrated the need for change. Sachem Head has consistently sought to reach a constructive resolution with US Foods – but the Board’s unwillingness to engage with us and make serious counteroffers have led us to this point.",
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      "text": "History of missed expectations and weak relative performance exiting COVID. Management has chronically reduced and missed guidance – which we believe has destroyed the Company’s credibility with the investment community.",
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