Performance Food Group announces Jan. 1 CEO transition

Performance Food Group CEO George Holm will transition to the role of executive chair of the Goochland County-based Fortune Global 500 food supplier’s board effective Jan. 1, with PFG President and Chief Operating Officer Scott McPherson succeeding him as CEO.

Known for overseeing Performance Food Group’s transition to a publicly traded company, Holm, 70, has led PFG since 2008 when the Blackstone Group and Wellspring Capital Management purchased the company in a $1.4 billion deal, merging it with a subsidiary of Vistar, for which Holm served as president and CEO.

McPherson, 55, will also be appointed to PFG’s board in January, according to a Thursday announcement.

As executive chair, Holm will continue to work closely with McPherson on mergers and acquisitions, customer relationships and overseeing the company’s strategic direction.

“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, who joined PFG in 2024 as its PFG as chief field operations officer, became PFG’s president and COO in January. As chief field operations officer, he oversaw the company’s primary business segments: Performance Foodservice, a Goochland-based foodservice distributor; Core-Mark, a Texas-based distributor to the convenience retail industry in North America; and Vistar, a Colorado-based candy, snack and beverage distributor.

Prior to that, McPherson served in a broad range of executive roles at Core-Mark, including chief operating officer, president and CEO.

According to PFG, McPherson, who earned an MBA from the University of Portland, is known for his expertise in supply chain management and divisional operations and for his commitment to cultivating a collaborative company culture.

“This leadership transition is the result of thorough and thoughtful multiyear succession planning by our board and supports the strategy unveiled at PFG’s 2025 Investor Day earlier this year,” Manuel A. Fernandez, lead independent director of the PFG board, said in a statement. “Scott is a proven leader with a deep understanding of PFG and, in his current role as COO, was a key architect in the development of our strategic objectives. We are confident that he is the right person to succeed George as CEO and take PFG into its next chapter of success.”

During Holm’s tenure, PFG went public in 2015. He became board chair in 2019. In fiscal 2025, Holm earned about $11.7 million in total compensation.

Prior to joining PFG, Holm was president and CEO of Vistar, which he founded in 2002. Over the course of a four-decade career, Holm served in leadership positions with Alliant Foodservice, US Foods, and Sysco Corp. He earned a bachelor’s degree in business administration from Grand Canyon University in Arizona.

“On behalf of the entire board, I want to thank George for his countless contributions to PFG and for being a visionary leader,” Fernandez stated. “During his tenure, George guided PFG from private ownership to being a publicly traded company, growing it significantly and building the foundation that has established PFG as a leading food and foodservice distributor in the United States.”

In November, PFG and US Foods announced they would be terminating talks on a proposed merger. Had the two companies merged, it would have created the nation’s largest food service distributor, with roughly $100 billion in combined revenue.

With more than 150 locations, PFG has about 43,000 employees. The PFG family of companies market and deliver quality food and products to more than 300,000 locations including restaurants, businesses, schools and health care facilities.