Sullivan stands down after 10 years in the role, joining Greencore having held senior management positions at Grand Metropolitan and Glanbia.
During his tenure as chairman he has successfully led the company through its transformation from a commodity based agribusiness to a focussed, high performing international convenience food business, said Greencore group chief executive, Patrick Coveney.
“I would, on behalf of everybody associated with Greencore, like to thank Ned for his huge contribution to the Group over the past ten years," said Coveney. "He chaired the Board during a period of enormous strategic, regulatory, marketplace, cultural and people changes.”
Chairman designate, Kennedy has been a non-executive director of Greencore since November 2008.
He is a director of biotechnology company, Elan and Irish Bank Resolution, as well as being chairman of their audit committees.
The company has also reported a “breakthrough year” , with revenue up 44% to £1,161.9M.