Kroger Chairman and CEO Resigns Amid Investigation Into Personal Conduct
Kroger Chairman and CEO Rodney McMullen has resigned following an internal investigation into his personal conduct. Kroger, the nation's largest grocery chain, said Monday that the investigation into McMullen's personal conduct was unrelated to the business, but was found to be inconsistent with its business ethics policy. 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 lead director of the company since 2017.
- The sudden departure of a high-profile CEO can create an opening for fresh perspectives and new leadership strategies within a company, but also risks disrupting key operational momentum.
- How will Kroger's board navigate the delicate process of finding and vetting a new CEO to replace McMullen, particularly in light of the recent failed merger attempt?