Sysco Corp

SYY: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$25.00	Dlb	Cttkbctwz

Sysco Names Kenny Cheung as CFO; No Change to Capital Allocation Rating

Sean Dunlop

Mar 28, 2023

Narrow-moat Sysco's search for a CFO has concluded, with Kenny Cheung set to step into the role on April 17. Interim CFO Neil Russell, a longtime Sysco insider, will move into a newly created chief administrative officer role predominantly designed to oversee the execution of the firm's "Recipe for Growth" strategy. We don't expect to change our $82 fair value estimate or our Standard Capital Allocation Rating in light of the transition.

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