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CINCINNATI – Kroger has announced a significant leadership transition in its finance department. David Kennerley, currently senior vice president and CFO for PepsiCo Europe, will succeed Todd Foley as senior vice president and chief financial officer on April 3, 2024. Kennerley will join Kroger on March 10, while Foley will remain interim CFO through Kroger’s fiscal year 2024 reporting cycle and continue as a senior vice president, supporting the transition until the end of the first quarter.
Kroger’s chairman and CEO, Rodney McMullen, emphasized the importance of a seamless handover. “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.”
Todd Foley, Kroger’s interim CFO since early 2024, will retire after a distinguished 23-year career. He joined in 2001 as an audit manager and advanced to roles such as vice president and treasurer, vice president and corporate controller, and group vice president and corporate controller. Foley's impact on Kroger’s finance and operations is well-recognized.
“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,” McMullen said. “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. I wish Todd and his family all the best in the next chapter of their lives.”
David Kennerley, a seasoned finance executive with nearly 25 years of experience at PepsiCo, will be Kroger’s new CFO. Kennerley’s career at PepsiCo spanned various leadership roles across U.S. and international finance teams, contributing to the company’s growth and shareholder value creation. He joined PepsiCo in 2001 and held positions including senior finance director for the Global Beverages Group, SVP Finance for North American Bottling, and most recently, CFO for PepsiCo Europe since March 2020.
“We look forward to welcoming David to the Kroger team,” McMullen said. “He brings to Kroger deep experience leading a broad cross-section of U.S. and international finance teams, which helped PepsiCo create shareholder value for nearly 25 years.”
Kennerley expressed enthusiasm about joining Kroger, stating, “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.”
Kennerley, a University College London graduate, started his career at Arthur Andersen as a certified public accountant. He and his family will relocate to Cincinnati as he takes on this new role.
