Kroger CEO Rodney McMullen Abruptly Resigned After an Investigation Into His 'Personal Conduct' McMullen had been Kroger's CEO since 2014 and became chair of the company's board of directors the following year.
By Alex Bitter
Key Takeaways
- Kroger has abruptly replaced its CEO with an interim leader, the grocery chain said on Monday.
- Rodney McMullen resigned, and Ronald Sargent is taking over his role.
- The chain said it learned about conduct "inconsistent with Kroger's Policy on Business Ethics."
This article originally appeared on Business Insider.
The grocery chain Kroger is replacing its CEO after an investigation into his personal conduct, it said Monday.
Kroger said in a statement that it learned about conduct by Rodney McMullen that was "inconsistent with Kroger's Policy on Business Ethics."
"On February 21, the Board was made aware of certain personal conduct by Mr. McMullen and immediately retained outside independent counsel to conduct an investigation, which was overseen by a special Board committee," Kroger said.
No Kroger associates were involved in McMullen's conduct, Kroger said. It added that the behavior wasn't related to the company's financial performance.
McMullen has resigned from the CEO role, Kroger said. He'd been Kroger's CEO since 2014 and became chair of the company's board of directors the following year.
The company has appointed Ronald Sargent, a member of its board of directors who's a former CEO of Staples, as interim CEO and board chair while it searches for a permanent replacement.
Mark Sutton will take over as the company's lead independent director, Kroger said.
Kroger is the largest supermarket chain in the US by sales. The company operates grocery stores under multiple names, including Harris Teeter and Fry's.
The company is expected to report its fourth-quarter earnings on Thursday.
