Kroger's long-time CEO, William Rodney McMullen, has been abruptly removed from his position due to unspecified personal conduct issues. The company is currently searching for a successor.
Kroger 's board of directors announced the sudden departure of CEO William Rodney McMullen on Tuesday, citing unspecified personal conduct issues. The company disclosed that it became aware of McMullen's conduct on February 21st and immediately engaged independent counsel to conduct an investigation, overseen by a special board committee.
Kroger emphasized that McMullen's actions were not connected to the company's financial performance, operations, or reporting, and did not involve any Kroger associates. The company declined to elaborate on the specific nature of McMullen's conduct that led to his departure after over a decade as CEO and nearly 45 years with Kroger. Lead director Ronald Sargent has been appointed as interim CEO, effective immediately, while Mark Sutton will assume the role of lead independent director. Kroger stated that a search committee has been formed to identify the company's next CEO, with a search firm engaged to assist in the process. The company is scheduled to release its fourth-quarter earnings report on Thursday. Kroger confirmed that McMullen will not be eligible to receive a bonus payout for 2024
Kroger CEO William Rodney Mcmullen Resignation Personal Conduct Investigation Interim CEO
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