Steven S. Sintros
UniFirst Corp., the Wilmington-based provider of workplace uniforms and laundry services, is going outside the founding family to replace its chief executive.
According to a report in the Boston Business Journal, the company, which posted fiscal 2016 sales of nearly $1.47 billion, has named Chief Financial Officer Steven S. Sintros as president and CEO, replacing the late Ronald Croatti.
Croatti died in May of complications from pneumonia, according to the report. He was 74 years old and had been chief executive since 1991. His father, Aldo Croatti, founded UniFirst in 1936.
Sintros, 43, has been with UniFirst since 2004. He has been CFO for eight years.
Citing a regulatory filing, the Journal reported that Sintros will remain CFO until that position is filled.
Shares of UniFirst closed Friday at $142.25, down less than 1 percent so far this year. But as recently as February 2016, they were selling for less than $100 apiece.
Analysts are expecting UniFirst to report sales of about $1.58 billion for the current fiscal year, which ends this month. That would represent about a 7.5 percent increase from fiscal 2016.
UniFirst also rents and sells industrial wiping products, floor mats, facility service products, dry and wet mops, and restroom supplies.