Kroger appoints PepsiCo CFO David Kennerley as incoming CFO

USA – David Kennerley, senior vice president and chief financial officer for PepsiCo Europe, is joining The Kroger Co. in the same role, succeeding Todd Foley, who is retiring.

Kroger announced that Kennerley will start at Kroger as senior vice president on March 10, with Foley continuing as interim CFO through the end of the company’s fiscal 2024 reporting cycle. Thereafter, Kennerly will proceed to take the CFO seat on April 3.

Rodney McMullen, chairman and chief executive officer of Kroger said that consistent with Kroger’s history of thoughtful succession planning, David and Todd would transition seamlessly to ensure Kroger continued to deliver on its go-to-market strategy and creating long term shareholder value.

Kennerley stated that he is thrilled to be joining Kroger at this exciting time for the business and that he is looking forward to getting started and building on the strong legacy built by Todd and the team.

He also thanked PepsiCo for the incredible opportunities that were accorded him over the last 24 years. Those experiences, he continued, were instrumental in paving the way for his new role as the CFO of Kroger.

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 when Kroger CFO Gary Millerchip left to join Costco Wholesale Corp. as executive vice president and CFO.

“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,” said McMullen.

Kennerley has been CFO of PepsiCo Europe since March 2020. He joined PepsiCo in 2001 as a manager in the international corporate finance/treasury department for Western Europe.

In 2005, he moved to the UK business as a business development director and then held various planning and commercial finance roles.

He became senior finance director for the new Global Beverages Group in 2011 and the next year shifted to the North American beverages business.

Kennerley then held various commercial finance roles before being appointed as senior vice president of finance for the North American bottling business.

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