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Sysco Announces CFO Transition Process
Globenewswire· 2026-03-05 13:00
Core Viewpoint - Sysco Corporation announces the resignation of CFO Kenny Cheung, effective March 6, 2026, and appoints Brandon Sewell as Interim CFO while reaffirming its fiscal year 2026 financial guidance for adjusted EPS at the high end of $4.50 to $4.60 [1][3][4] Leadership Transition - Kenny Cheung will step down to pursue an opportunity at a Fortune 10 company, remaining with Sysco until April 17, 2026, to ensure a smooth transition [1] - Brandon Sewell, who joined Sysco in 2014 and has held various finance roles, including Senior Vice President and CFO of Sysco's U.S. business, has been appointed as Interim CFO [2][3] Financial Performance and Guidance - Sysco reaffirms its fiscal year 2026 adjusted EPS guidance at $4.50 to $4.60, with expected sales growth of 3%-5% [3][4] - The company anticipates a consensus adjusted EPS of $0.94 for the third quarter of 2026 and local case growth of at least 2.5% compared to the prior year [3] Company Overview - Sysco is the global leader in selling, marketing, and distributing food and related products, operating 337 distribution centers across 10 countries and serving approximately 730,000 customer locations [4] - The company generated over $81 billion in sales for the fiscal year 2025 [4]