Grocery Giant Kroger Picks PepsiCo Executive David Kennerley As Finance Head

The Kroger Co. (KR), one of the largest grocery retailers in the United States, has announced the appointment of David Kennerley as its new senior vice president and chief financial officer (CFO), effective April 3, 2025. Kennerley, who currently serves as the senior vice president and CFO for PepsiCo Europe, will succeed Todd Foley, who has been serving as the interim CFO since 2024.

Kennerley brings nearly 25 years of international finance experience from his tenure at PepsiCo, where he held various roles across Planning and Commercial Finance, as well as senior finance director positions. His extensive background in leading diverse finance teams across multiple regions and businesses is expected to bring valuable insights and expertise to Kroger's financial operations.

"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," said Rodney McMullen, Kroger's chairman and CEO.



Kennerley's appointment comes at a critical juncture for Kroger, as the company continues to navigate a competitive retail landscape and adapt to evolving consumer preferences. His deep experience in strategic planning, commercial finance, and treasury and risk management is expected to be instrumental in driving Kroger's financial performance and enhancing shareholder value.

"I'm thrilled to be joining Kroger at this exciting time for the business," said Kennerley. "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 graduated from University College London and then joined Arthur Andersen, where he qualified as a chartered accountant. He and his family will relocate to Cincinnati, where Kroger is headquartered.

Todd Foley, who has been with Kroger since 2001, will remain a senior vice president of the company and continue to serve on the senior leadership team to support the company during the transition period until the end of Kroger's first quarter. Foley's contributions to Kroger's business and the finance department have been widely recognized, and his care for and commitment to his fellow associates have been appreciated by the company's leadership.

The appointment of David Kennerley as Kroger's new CFO is a strategic move that reflects the company's commitment to enhancing its financial strategies and creating long-term shareholder value. As Kennerley acclimates to his new role, Kroger will work to ensure a smooth transition and maintain investor confidence in the company's financial future.