Kroger CEO Rodney McMullen steps down after an internal investigation into his personal conduct determines it to be inconsistent with the company's ethics policy. Ronald Sargent, a long-standing board member, takes over as interim CEO.
Kroger , the nation's largest grocery chain, announced on Monday that Chairman and CEO Rodney McMullen has resigned following an internal investigation into his personal conduct . The investigation, conducted by an outside independent counsel overseen by a special board committee, determined that McMullen's actions were inconsistent with the company's business ethics policy, although unrelated to the business itself.
Board member Ronald Sargent will serve as chairman and interim CEO, effective immediately. Sargent has been on Kroger's board since 2006 and has served as the company's lead director since 2017. He brings extensive experience to the role, having held various positions at Kroger across different departments, including stores, sales, marketing, manufacturing, and strategy. Sargent is also the former Chairman and CEO of Staples.McMullen, 64, began his career with Kroger in 1978 as a part-time stock clerk and bagger in Lexington, Kentucky. He steadily climbed the corporate ladder, becoming chief financial officer in 1995 and chief operating officer in 2009. McMullen was appointed Kroger's CEO in 2014 and chairman the following year. Kroger's board was made aware of the situation on February 21 and immediately engaged outside counsel to conduct an investigation.
Kroger CEO Rodney Mcmullen Resignation Personal Conduct Investigation Ronald Sargent Interim CEO Business Ethics
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