The Quality of Life salesman

The Bellon family owns a third of a business worth £10.6bn

If you like your tech stocks, the sales news from Apple will have had you salivating.

And sure enough, the numbers are boggling; in only three months at the end of 2015, more than 75 million iPhones sold, more than £53bn in revenue, £13bn profit.

But while the financial commentators ponder this apparent Peak Apple moment, there's news from another corporate juggernaut that's worth noting.

It's about Pierre Bellon. You may not have heard of him, but you've almost certainly eaten his food.

For 50 years, the Frenchman has been at the helm of the company he founded, Sodexo.

On Tuesday, aged 86, he stepped down, to become emeritus chairman and to spend more time with his family's £3bn fortune.

Sweet spot

It's a business career worth marking, for its length and for the scale of what Monsieur Bellon has achieved.

Founded in France in 1966, Sodexho (it dropped the 'h' in 2008) went international within five years.

It seems to have hit a growth sweet spot when manufacturing was giving way to the service sector. And its growth accompanied the corporate trend towards more efficient outsourcing of non-core activities - such as the works/office canteen.

Today and every weekday, Sodexo serves food to 75 million people. To do so, on 32,000 sites in 80 countries, it employs 420,000 people. It claims to be the world's 19th largest employer.

Annual revenues have reached £15bn and market value is £10.6bn. The Bellon family owns more than a third, along with more than half the voting rights.

The UK workforce comprises 34,000 at more than 1,800 locations in offices, hospitals, schools, prisons, sports centres and barracks.

Seniorization

It may look like low-paid caterers churning out cheaply-sourced food on narrow margins - and it has faced protests in the US over its staff pay levels - but the way Sodexo sees itself is rather more elegant.

It claims to be "the world leader in Quality of Life services".

The core catering business extends to 100-plus different propositions - not only catering, but receptionists, safety, facilities management and maintenance, plus handling of employee benefits and provision of passes and vouchers.

It works in the home care and care home business, as it looks for opportunities in the "seniorization of populations". (Ugh)

The founder and retiring chairman has been seniorized into retirement, having performed the vital outgoing task of a departing boss - finding a successor.

In a company which already prides itself on gender balance, the new occupant of the boardroom chair is Pierre Bellon's daughter, Sophie.