Kroger CEO and chairman Rodney McMullen has stepped down after an internal investigation found his personal conduct violated the company’s ethical policies.
On 21 February, the board was alerted to concerns about McMullen’s conduct, prompting a special committee investigation, the company said in a press release.
The statement also mentioned that the conduct is unrelated to the company’s business operations and financial performance, and no Kroger associates were involved.
McMullen joined Kroger in 1978 and has served as chairman and CEO since 2015.
Moving forward, the company has appointed lead director Ronald Sargent to step into the role of chairman and interim CEO, while Mark Sutton will serve as lead independent director effective immediately.
Sargent has been part of Kroger’s board since 2006 and has served as lead director since 2017.
Sargent said: “As interim CEO, I am committed to working alongside our proven and experienced management team and dedicated associates to ensure Kroger continues providing exceptional value for our customers.
“My decades here have given me a full appreciation of what makes Kroger unique, and I am excited to work even more closely with this talented team. I plan to be a steady but active hand in the execution of our strategy.”
He brings 35 years of experience to the role, having previously served as chairman and CEO of Staples from 2002 to 2016 after joining the retail company in 1989.
Sutton added: “Over the years, Ron has played an integral role in the development and approval of Kroger’s strategy, which has led us to the position of strength where we are today.
“Kroger will continue to deliver for our customers, invest in our associates, strengthen our communities, and reward our shareholders under Ron’s leadership.”
The retailer is actively seeking a new CEO to join the company.
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