The Kroger Co. has announced a significant change in its leadership structure, with the appointment of David Kennerley as the new Senior Vice President and Chief Financial Officer (CFO). Effective April 3, Kennerley will take over from Todd Foley, who has been serving as interim CFO. This transition is part of Kroger's strategic succession planning, ensuring continuity and stability within the company’s financial leadership. Foley will remain involved until the end of the fiscal year to support the transition. The move underscores Kroger's commitment to maintaining its market strategy and delivering value to shareholders while continuing to provide fresh, affordable food to families across America.
Kennerley brings extensive experience in finance leadership, having spent nearly two and a half decades at PepsiCo, where he held various senior roles. His most recent position was as the CFO for PepsiCo Europe. He will join Kroger on March 10, initially assuming the role of Senior Vice President before officially becoming CFO. Kennerley’s background includes managing treasury activities, business development, and commercial finance across multiple regions, contributing significantly to PepsiCo’s success. His expertise will be invaluable as Kroger navigates its ongoing initiatives and strategic goals.
Rodney McMullen, Kroger’s Chairman and CEO, expressed confidence in the seamless transition between Kennerley and Foley. He highlighted the importance of thoughtful succession planning, which has been a hallmark of Kroger’s leadership approach. Kennerley’s arrival marks a pivotal moment for the company, bringing fresh perspectives and proven capabilities to enhance financial operations and drive long-term shareholder value.
Todd Foley, who has been instrumental in Kroger’s financial department since joining in 2001, will retire after serving as interim CFO. Throughout his tenure, Foley held several key positions, including Controller of the Cincinnati-Dayton Division, Assistant Corporate Controller, and Vice President and Treasurer. His contributions have been vital to Kroger’s success, and his dedication to the company and its associates has been widely recognized. Foley’s retirement signifies the end of an era but also sets the stage for a new chapter under Kennerley’s leadership.
Kennerley’s career trajectory at PepsiCo reflects a deep understanding of international finance and operational excellence. After joining PepsiCo in 2001, he rapidly advanced through various roles, including managing treasury activities in Western Europe, directing business development in the UK, and leading finance teams across global beverage operations. His appointment as CFO for PepsiCo Europe in 2020 further solidified his reputation as a seasoned finance leader. With this wealth of experience, Kennerley is poised to make a significant impact at Kroger, building on the strong foundation laid by Foley and his team.
Kroger remains dedicated to its mission of feeding the human spirit through its extensive network of retail food stores and digital platforms. As the company continues to innovate and expand, the leadership transition ensures that Kroger stays on track to achieve its strategic objectives. The incoming CFO will play a crucial role in driving initiatives aimed at creating sustainable communities and fostering growth, all while maintaining the high standards of service and quality that Kroger is known for.