Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · Regulation FD Disclosure
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On February 27, 2026, Mr.…
Filed Mar 5, 2026Accepted Mar 5, 2026, 8:01 AM ESTCIK 96021Accession 0001193125-26-092606
Sysco is the global leader in selling, marketing and distributing food and related products to customers who prepare meals away from home. This includes restaurants, healthcare and educational facilities, lodging establishments, entertainment venues, and more. Sysco operates 333 distribution centers, in 10 countries, with 75,000 colleagues serving approximately 670,000 customer locations. The company generated sales of more than $84 billion in fiscal year 2026 that ended June 27, 2026.
Select an item to read the extracted section. The as-filed document remains the primary evidence.
Item 5.02Item 5.02 - Departure/Election of Directors
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 27, 2026, Mr. Kenny Cheung, Executive Vice President and Chief Financial Officer of Sysco Corporation (“Sysco” or the “Company”), notified the Company of his decision to resign from his position as Executive Vice President and Chief Financial Officer. Mr. Cheung resigned to accept an opportunity at a Fortune 10 company in a different industry, and there were no disagreements between the Company and Mr. Cheung on any matter relating to the Company’s operations, policies, or practices, including any matters relating to its accounting principles or practices, financial statement disclosure, or internal controls.
On March 4, 2026, the Company’s Board of Directors (“Board”) appointed Mr. Brandon Sewell, age 46, the Company’s Senior Vice President and Chief Financial Officer - U.S. Foodservice Operations, to serve as interim Chief Financial Officer, effective March 6, 2026. Prior to serving as Senior Vice President and Chief Financial Officer of the Company’s U.S. business, Mr. Sewell served in various management roles of increasing responsibility within the Company’s finance organization. Prior to joining Sysco in April 2014, Mr. Sewell served in the finance organization at Dell Technologies.
In connection with Mr. Sewell’s appointment as interim Chief Financial Officer, Mr. Sewell and the Company entered into a letter agreement, pursuant to which Mr. Sewell will receive an annual base salary of $420,000 and will be eligible to receive: (i) a target annual cash incentive opportunity for fiscal year 2026 equal to 100% of his annual base salary, pro-rated from March 1, 2026; (ii) an annual equity award for fiscal year 2026 under the Long Term Incentive program with a grant date fair value equal to 125% of his annual base salary, vesting over a period of three years; and (iii) a one-time restricted stock unit award to be granted upon completion of Mr. Sewell’s interim role, in the amount and on such terms as are determined from time to time by the Compensation and Leadership Development Committee of the Board, intended to enhance Mr. Sewell’s retention.
There is no family relationship between Mr. Sewell and any director or executive officer of the Company, and Mr. Sewell is not a party to any transaction subject to Item 404(a) of Regulation S-K involving the Company or any of its subsidiaries.
Mr. Cheung will remain at the Company in an advisory capacity until April 17, 2026, to ensure a smooth transition.
Item 7.01Item 7.01 - Regulation FD Disclosure
ITEM 7.01 Regulation FD Disclosure.
On March 5, 2026, the Company issued a press release announcing the departure of Mr. Cheung and the appointment of Mr. Sewell as described in Item 5.02 of this Form 8-K.
A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated into this Item 7.01 by reference. The information in this Item 7.01 is being furnished, not filed, pursuant to Item 7.01 of Form 8-K.
Filed exhibits (1)
EX-99.1 (by filename) d25409dex991.htm
EX-99.1
2
d25409dex991.htm
EX-99.1
EX-99.1
Exhibit 99.1
SYSCO ANNOUNCES CFO TRANSITION PROCESS
● Kenny Cheung to step down to accept another opportunity
● Brandon Sewell appointed interim CFO
● Company reaffirms 2026 adjusted EPS at the high end of guidance range
HOUSTON, March 5, 2026 - Sysco Corporation (NYSE:SYY) (“Sysco” or the “company”) today announced that
Kenny Cheung, Executive Vice President and Chief Financial Officer, will step down to accept an opportunity at a Fortune 10 company in a different industry. Effective March 6, 2026, 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, 2026, 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,…