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Cintas Corp. has announced that Todd Schneider will take over as CEO on June 1. Schneider has been executive vice president and COO since 2018. He has been with Cintas for 32 years since joining the company out of college as part of its management training program in 1989. Schneider is a Fort Thomas resident.
Current CEO Scott Farmer is retiring after 18 years at the helm of the corporate uniform giant launched by his ancestors.
Farmer, 61, will retire as CEO of Mason-based Cintas (Nasdaq: CTAS) when its fiscal year ends May 31. He will remain as executive chairman, keeping the role he has had for five years.
Cintas grew from $2.7 billion in revenue in 2003 when Farmer took over to more than $7 billion in fiscal 2020. It is Greater Cincinnati's sixth-largest public company, according to Courier research. He also was named the Greater Cincinnati public company CEO who provided shareholders with the best bang for their buck in fiscal 2019, the most recent rankings available, according to Courier analysis.
“Scott has done a great job leading Cintas through years filled with challenges, change and opportunities, including the Great Recession and the recent pandemic,” Cintas lead director Joe Scaminace said in a news release.
Farmer, who will be 62 when he retires, is also a significant owner of Major League Soccer team FC Cincinnati.
The board conducted a comprehensive search for a successor before deciding to promote Schneider.
“Todd has an extensive knowledge of our company, fully supports and exemplifies our culture and will ensure a seamless transition,” Farmer said. “Todd is undeniably the right person to lead Cintas to even greater success in the future.”
Schneider is confident the company with a well-known national brand will continue its position as an industry leader.
“With the proven leadership team currently in place, along with our exemplary employee-partners providing excellent care to our customers, I believe Cintas’ future is brighter than ever,” Schneider said.