About

David J. C. Kennerley was elected Executive Vice President in March 2025 and serves as Kroger's Chief Financial Officer, having been appointed Senior Vice President and CFO in February 2025.

Before joining Kroger he spent more than two decades at PepsiCo, from 2001 to 2025, most recently serving as CFO, Europe from March 2020 to March 2025.

Roles

Kroger Co
Executive Vice President and Chief Financial Officer · Current role
2025–present
PepsiCo
Chief Financial Officer, Europe · Joined PepsiCo in 2001 and held roles across planning and commercial finance, including SVP Finance for the North American Bottling business, before serving as CFO, Europe from March 2020.
2020 - 2025

Fixed Compensation

FY 2025
Salary
$647,312
Bonus (signing bonus per employment agreement)
$850,000
All other compensation
$434,419
Dividend equivalents on earned performance units$3,240
Dividends on unvested restricted stock$57,560
Relocation$257,087
Tax gross-up on relocation$111,259
Total
$10,353,230

Performance Compensation

Data from FY 2025

Cash incentive

Identical Sales, excl. fuel & pharmacy
1.13% ID sales; 82.04% grid payout
MetricIdentical Sales, excl. fuel & pharmacy
Target Opportunity
—
Weight90% (ID Sales x Adj. FIFO Operating Profit grid)
Achievement1.13% ID sales; 82.04% grid payout
Adjusted FIFO Operating Profit, incl. fuel & pharmacy
$4.9B
MetricAdjusted FIFO Operating Profit, incl. fuel & pharmacy
Target Opportunity
—
Weight(within 90% grid)
Threshold$4,410M
Maximum$5,410M
Achievement$4.9B
Pharmacy Script Count Growth
100% payout
MetricPharmacy Script Count Growth
Target Opportunity
—
Weight10%
Achievement100% payout
Composite Score Kicker
earned (10%)
MetricComposite Score Kicker
Target Opportunity
—
Weight+10% max
Achievementearned (10%)
2025 Annual Incentive Plan - total
$750,688 (93.84% of target)
Metric2025 Annual Incentive Plan - total
Target Opportunity
$800,000
Maximum$1,680,000
Achievement$750,688 (93.84% of target)

Stock awards

Stock awards
$3,730,089
FormRestricted Stock
FormRestricted Stock
Grant date3/13/2025
Shares56,431
VestingVests in equal annual installments over the first four anniversaries of the grant date (25%/yr)
Stock awards
$619,990
FormStock Options
FormStock Options
Grant date3/13/2025
Shares30,816 options
VestingVests in equal annual installments over the first four anniversaries of the grant date (25%/yr); exercise price $66.10
Stock awards
$3,320,732
FormPerformance Units
FormPerformance Units
Grant date3/13/2025
Shares50,238 target / 94,196 max
Vesting3-yr performance period (FY2025-2027); metrics: Adjusted Total Sales w/o Fuel + Fuel Gallons, Value Creation Metric (iTSR), Relative TSR modifier; max 187.5% of target

Also at Kroger Co

Colleague
Ronald L. Sargent
Chairman of the Board
Colleague
Mark S. Sutton
Lead Director
Colleague
Nora A. Aufreiter
Director

Related

Company
Kroger Co
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