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Kroger Co. CEO Rodney McMullen, resigned from his post following an investigation into his personal conduct, the company announced on Monday.
Kroger said in a statement that McMullen’s conduct was “not linked to the company” but that it was still “incompatible with Kroger’s policy on business ethics”. McMullen’s withdrawal occurs months after the end of Kroger A merger of 25 billion dollars With Albertsons under his direction. Albertsons continued Kroger for breach of contract, arguing that they had landed the agreement.
“On February 21, the Board of Directors was informed of certain personal behaviors of Mr. McMullen and immediately retained the independent external councils to conduct an investigation, which was supervised by a special committee of the Board of Directors. The conduct of Mr. McMullen was not linked to the financial performance of the company, to operations or reports, and it did not involve any Kroger partner,” said the company.
Ronald Sargent has now been appointed Chairman of the Board of Directors and Acting CEO to McMullen’s Place.
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Rodney McMullen, Managing Director of Kroger Co., during a Bloomberg television interview in New York, in the United States. (Jeenah Moon / Bloomberg via Getty Images / Getty Images)
“As an acting CEO, I undertake to work alongside our proven and experienced management team and dedicated partners to ensure that Kroger continues to offer exceptional value to our customers,” said Sargent in a press release.
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“Kroger was a special place throughout my retail career after spending summers in college working in stores, as well as my first ten years after the business school of the head office, before serving more recently as an independent director. My decades here gave me a great appreciation of what makes Kroger unique, and I am delighted to work even more with this talented team. Our strategy, “he continued.
Kroger CEO Rodney McMullen, resigned from his post on Monday. (Photographer: Shelby Tauber / Bloomberg via Getty Images / Getty Images)
Sargent has been director of Kroger since 2006 and has been Kroger’s main director since 2017. He spent the first 10 years of his professional career at Kroger, working in several roles in stores, sales, marketing, manufacturing and strategy. Sargent is a veteran operator and leader with 35 years of experience, especially as president and chief executive officer of Staples, Inc., explains Kroger.
An image divided of windows by Kroger and Albertsons. A merger agreement between the two companies failed last year. (Kroger: Charles Bertram / Lexington Herald-Leader / Tribune News Service via Getty Images | Albertsons: Shelby Tauber / Bloomberg via Getty Images / Getty Images)
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The Kroger-Albertsons agreement would have been the greatest merger in the history of the grocery industry.
Reuters contributed to this report.