Foodservice products distributor Performance Food Group announced Dec. 18 that as part of a planned succession process, CEO George Holm will transition to the role of Executive Board Chair, effective Jan. 1 and that current President and COO Scott McPherson will succeed Holm as the company’s new Chief Executive of and will join the company’s board.

As Executive Chair, Holm will continue to work closely with McPherson on M&A activities, customer relationships and overseeing the company’s strategic direction.

The news comes about four weeks after PFG announced that it had nixed talks with U.S. Foods regarding a potential combination in which U.S. Foods would take over the company.

“It has been a privilege to be CEO of PFG, and I am proud of all that we have accomplished together. With a strong team, a clear strategic vision and positive business momentum, now is the right time to implement our succession plan and the next phase of leadership for the company,” Holm said in a news release. “Having worked closely with Scott, I have seen firsthand how he prioritizes people and customers, bringing a relentless pursuit of value creation. I believe the future of PFG is bright under Scott’s leadership and I look forward to continuing to work alongside him and the rest of the board in my new role as Executive Chair.”

McPherson, whose extensive experience includes having served as CEO of CoreMark, became President and COO at PFG in January 2025. He previously served as Chief Field Operations Officer, where he oversaw the company’s primary business segments: Performance Foodservice, Core-Mark and Vistar since January 2024. PFG noted that over the course of his more than 30-year career, McPherson has been recognized for his innovative contributions to sales and marketing, his expertise in supply chain management and divisional operations and his commitment to cultivating a positive, collaborative company culture.

“I’m honored to step into the role of CEO at this exciting time for PFG,” McPherson said. “I believe our company has tremendous growth potential as we focus on driving top-line performance — supporting our existing customers while winning new business through collaboration across our diverse segments. Operationally, we’re well-positioned and will continue investing in technologies that enhance efficiency and strengthen bottom-line results. PFG is recognized across the foodservice, convenience and specialty segments for the quality of our associates and our strong cultural values, and I’m proud to continue that legacy.”