#United States #CFO #Kroger #Cincinnati #David Kennerley

Kroger Welcomes David Kennerley as New Chief Financial Officer

The Kroger Co. has recently unveiled its succession plan for the Chief Financial Officer (CFO) position, announcing the transition of leadership to David Kennerley, who joins from PepsiCo Europe. This strategic move underscores Kroger's commitment to ensuring continuity in its financial operations as Todd Foley prepares to retire after guiding the company as interim CFO.

Transition Details

Effective April 3, 2025, David Kennerley will officially take on the role of senior vice president and CFO at Kroger. Before this, he will start working with the company on March 10 as senior vice president. Todd Foley, who has played a crucial role in the company’s financial landscape since stepping into the interim CFO role in 2024, will remain in this position until the conclusion of Kroger's fiscal year 2024 reporting cycle. Both executives will collaborate closely during this transition to ensure a seamless handover.

Kroger's Chairman and CEO Rodney McMullen emphasized the importance of this succession plan, stating that Kennerley’s wealth of experience will be instrumental in advancing Kroger’s goals. McMullen commented, "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."

Acknowledging Todd Foley's Contributions

Foley’s career with Kroger began in 2001, holding various positions that showcased his deep understanding of both the company and its financial operations. His journey from audit manager to CFO is a testament to his expertise and dedication to the company. McMullen expressed gratitude for Foley's leadership during a critical period, recognizing his extensive contributions while also praising his commitment to the team. He stated, "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."

Meet David Kennerley

David Kennerley brings nearly 25 years of financial leadership experience from PepsiCo, where he held various roles in international finance. His diverse background includes managing treasury for Western Europe, business development in the U.K., and leading strategic financial initiatives across several sectors. Most recently, he served as CFO for PepsiCo Europe. Kennerley’s expertise will be pivotal in steering Kroger's financial strategies going forward.

Upon his appointment, Kennerley remarked, "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."

Educational Background

Kennerley earned his degree from University College London and further honed his financial acumen as a chartered accountant with Arthur Andersen, a prestigious accounting firm. His well-rounded experience positions him well to take on Kroger’s financial challenges and opportunities.

Kennerley, along with his family, will be relocating to Cincinnati, reflecting his commitment to fully integrating into the Kroger community. As he prepares to step into this critical role, expectations are high for his contributions toward Kroger's mission to feed the human spirit and create sustainable communities.

Kroger remains dedicated to its purpose of enhancing the customer shopping experience through various retail formats and digital services, driving towards a future of fresh and accessible food for all. This leadership change reflects Kroger's strategic focus on maintaining robust financial health while navigating the complexities of today's market environment.

As the organization looks ahead, both Kennerley and Foley are poised to guide Kroger through this period of transition, ensuring that the company's operational goals align seamlessly with its commitment to transparency, innovation, and continued success.