He’s departing company after 53 years NEW HARTFORD, N.Y. — Fifty-three years after starting PAR Technology Corp. (NYSE: PAR) and 10 years after stepping down as CEO, John W. Sammon, Jr. will leave the company this June when he steps down from its board of directors. PAR Technology announced on April 12 that Sammon will […]
NEW HARTFORD, N.Y. — Fifty-three years after starting PAR Technology Corp. (NYSE: PAR) and 10 years after stepping down as CEO, John W. Sammon, Jr. will leave the company this June when he steps down from its board of directors.
PAR Technology announced on April 12 that Sammon will not stand for re-election to the board at the restaurant technology company’s 2021 annual meeting of stockholders on June 4.
Sammon started PAR Technology in 1968 in Rome. PAR Technology was originally known as Pattern Analysis and Recognition Corporation and was a Department of Defense contractor. Ten years later, Sammon led PAR Technology’s transition to a restaurant technology provider. He served as chairman and CEO of PAR Technology from its founding until his retirement in 2011 from day-to-day operations. He stayed on since then as an active member of PAR Technology’s board, especially in setting the company’s future strategy.
“As I leave the company after 53 years since its founding; I am proud of all we have accomplished and know that none of this would have been possible without the support and hard work of so many people including employees, fellow board members, customers, stockholders and my family,” Sammon said in a release. “Looking forward, I have great confidence in our current CEO, Savneet Singh, and the management team he is now leading. I leave knowing the Company is in good hands.”
PAR Technology, through its wholly owned subsidiary ParTech, Inc., has more than 100,000 restaurants in more than 110 countries using its point-of-sale hardware and software.
Singh, reflecting on Sammon’s pending departure, said, “Since joining the PAR board of directors in 2018 and being named CEO in 2019, I have gotten to know and deeply respect John for the exceptional foresight and determination he so passionately brings to PAR. He will be missed. Since becoming CEO, I am even more impressed with PAR, the caliber of our employees, and their commitment to serving customers with our transformative technology. Our team is focused on our mission, and we are working hard to drive significant, long-term growth that benefits all of our stakeholders.”
PAR Technology generated revenue of $213.8 million in 2020, up more than 14 percent from $187.2 million in 2019.
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