Sysco Corporation (NYSE:SYY) today announced that Chief Financial Officer Kenny Cheung, will step down to accept an opportunity at a Fortune 10 company in a different industry. Effective March 6, Sysco has appointed Brandon Sewell, a long-serving and accomplished leader within Sysco’s finance organization, as Interim CFO. Cheung will remain with the Company until April 17, to ensure a smooth transition.
Sewell joined Sysco in 2014 and has held various management roles of increasing responsibility within Sysco’s finance organization, most recently serving as Senior Vice President and CFO of Sysco’s U.S. business, the Company’s largest business unit. He brings deep institutional knowledge and a strong track record of financial leadership during his 12 years’ tenure.
Previously, he was the head of finance for supply chain, the head of finance for merchandising and before that, led global financial planning and analysis (FP&A). Sewell holds an undergraduate degree from Brigham Young University and an MBA from Duke’s Fuqua School of Business. He will work closely with Sysco’s executive leadership team to ensure continuity and disciplined execution of the Company’s financial strategy.
“On behalf of our entire leadership team, I’d like to thank Kenny for his many contributions to Sysco,” said CEO Kevin Hourican.
“During his tenure, we significantly upskilled our finance organization, brought strong talent to our team, developed internal talent, modernized our financial processes and technology, and increased our Return on Invested Capital (ROIC) discipline to support our long-term strategy.”
SYY shares began Thursday down $1.72, or 2%, to $85.91.
