Sysco 8-K Report, Executive Changes (Mar 5, 2026)

Sysco Corporation (NYSE: SYY) disclosed in an 8-K filed March 5, 2026 that Executive Vice President and Chief Financial Officer Kenny Cheung has resigned to accept an opportunity at a Fortune 10 company in a different industry.

The filing states there were no disagreements with the Company on operations, policies, practices, accounting, financial statement disclosure, or internal controls. Cheung will remain at the Company in an advisory capacity until April 17, 2026, to ensure a smooth transition. The Board of Directors appointed Brandon Sewell, 46, Senior Vice President and Chief Financial Officer of U.S. Foodservice Operations, as interim Chief Financial Officer effective March 6, 2026.

Sewell joined Sysco in April 2014 and previously held finance roles of increasing responsibility, after earlier work in finance at Dell Technologies. Under a letter agreement, he will receive an annual base salary of $420,000,^a a fiscal year 2026 target annual cash incentive equal to 100% of base salary (pro-rated from March 1, 2026), a fiscal 2026 Long Term Incentive equity award with a grant date fair value equal to 125% of base salary vesting over three years, and a one-time restricted stock unit award upon completion of his interim role, intended to enhance retention. In a press release furnished as Exhibit 99.1, Sysco reaffirmed its fiscal year 2026 guidance, with adjusted EPS at the high end of $4.50 to $4.60 and sales growth of 3%-5%.

The company also reaffirmed third quarter 2026 consensus adjusted EPS of $0.94^b and USFS local case growth of at least 2.5% compared to the prior year. Investors will be watching how the interim arrangement and the search for a permanent CFO affect financial continuity.