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Fortune

Sheryl Estrada

Kroger hires PepsiCo exec for CFO role as grocery battles heat up

Kroger PepsiCo United States Morningstar Albertsons Costco Kroger Co

David Kennerley (Credit: Courtesy of The Kroger Co.)

Good morning. Fortune 500 companies are increasingly hiring external talent for CFO roles.

One of the latest such moves is Kroger Co. hiring PepsiCo's David Kennerley as its new finance chief. Supermarket giant Kroger announced on Wednesday that Kennerley will officially begin as CFO on April 3. But he will join Kroger on March 10 as senior vice president, while interim CFO Todd Foley continues through the end of Kroger's fiscal year 2024 reporting cycle. Former CFO Gary Millerchip left the company about a year ago to join Costco as finance chief.

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