Kroger has announced that David Kennerley will succeed Todd Foley as the company’s senior vice president and chief financial officer, effective 3 April.
Kennerley, who is currently the senior vice president and CFO for PepsiCo Europe, will join Kroger on 10 March in his new role. Meanwhile, Foley will continue as interim CFO through the end of Kroger’s fiscal year 2024 reporting cycle and remain a senior vice president, providing support during the transition until the end of the first quarter of fiscal 2025.
Foley, who joined Kroger in 2001, has served in various roles over the years, including as group vice president and corporate controller. He stepped into the interim CFO role in 2024.
Kennerley, who has been with PepsiCo since 2001, brings extensive international finance experience, including his role as CFO of PepsiCo Europe since March 2020. During his tenure, he helped lead PepsiCo’s global finance teams, contributing to the company’s growth and shareholder value.
Rodney McMullen, Kroger’s chairman and CEO, said: “Consistent with Kroger’s history of thoughtful succession planning, David and Todd will transition seamlessly to ensure Kroger continues to deliver on its go-to-market strategy, providing access to fresh, affordable food for families across America and, by doing so, creating long term shareholder value.”
He continued: “On behalf of our board of directors and senior management team, we thank Todd for stepping into the interim CFO role last year and ensuring the business did not skip a beat. Todd’s contributions to our business and the finance department are wide and deep, and I especially appreciate his care for and commitment to his fellow associates.”
“We look forward to welcoming David to the Kroger team. He brings to Kroger deep experience leading a broad-cross section of US and international finance teams which helped PepsiCo create shareholder value for nearly 25 years.”
Kennerley added: “I’m thrilled to be joining Kroger at this exciting time for the business. I am looking forward to getting started and building on the strong legacy built by Todd and the team. I want to thank PepsiCo for the incredible opportunities I’ve had over the last 24 years. These experiences have been instrumental in paving the way for my new role as the CFO of Kroger.”
By David Kennerley
Source: foodbev.com
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