Kroger CEO Resigns Abruptly After Personal Conduct Investigation
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Kroger CEO Rodney McMullen has resigned after the company board investigated his “personal conduct” and found it countered the companies code of ethics.
With McMullen leaving the company, it was an abrupt leadership shakeup at the country’s largest supermarket chain. There were not many details released on what led up to the resignation. On Monday, the company released a statement on an investigation by outside counsel found the conduct was “unrelated to the business” and did not involve Kroger workers. The main message that the company gave out was that the CEO went against Krogers “Policy on Business Ethics.”
Most recently McMullen had overseen Kroger’s unsuccessful attempt to buy the second-largest supermarket chain, Albertsons. The historic grocery company faced opposition from the Biden administration’s officials and several state attorneys general.
After more than two years of trying, the deal died in December after the companies failed to convince multiple courts that they should be allowed to merge to take on bigger rivals such as Walmart.
Kroger is now searching for a new CEO. For now, it has appointed Ron Sargent, which is Krogers lead director and former Staples CEO, as intern chief executive. In the company’s statement, they said it still plans to hold a call on Thursday to announce its quarterly earnings and guidance for the year ahead.
