AbstractThe cyanide‐catalyzed ring‐transformation of α‐hydroxy‐β‐oxoesters to δ‐lactones with exocyclic ester moiety is the key transformation for the preparation of racemic 5‐hexadecanolide (15 % over nine steps) and 6‐acetoxy‐5‐hexadecanolide (22 % over eight steps), two insect pheromones. The benzyloxycarbonyl moiety is transformed via the acid chloride to the undecanoyl side chain. After reduction of the ketone to the secondary alcohol, this functional group was either reduced via the chloro compound to furnish the 5‐hexadecanolide. On the other hand, stereoselective reduction of the ketone gave secondary alcohol with the wrong relative configuration, which was established by X‐ray single‐crystal structure. Inversion was achieved by reaction of the methanesulfonate with cesium acetate yielding (R*,S*)‐6‐acetoxy‐5‐hexadecanolide with the relative configuration also present in the natural product.