Kroger’s CEO abruptly resigns after probe into personal conduct

Rodney McMullen, chief executive officer of Kroger, has resigned. 

 New York : Kroger CEO Rodney McMullen is resigning immediately from the grocery store chain following an investigation that found his personal conduct was “inconsistent” with the company’s ethics policies.

Rodney McMullen, the longtime Chairman and CEO of Kroger, has resigned following an internal investigation into his personal conduct, which was found to be inconsistent with the company's Policy on Business Ethics. The investigation, initiated on February 21 and led by outside independent counsel, concluded that while McMullen's actions did not involve other Kroger associates or affect the company's financial performance, they warranted his immediate departure. citeturn0news17

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In response, Kroger's Board of Directors has appointed Ronald "Ron" Sargent as interim Chairman and CEO. Sargent, a board member since 2006 and former CEO of Staples, brings extensive retail experience to the role. The Board has formed a search committee to identify a permanent successor. citeturn0news16

McMullen's resignation comes on the heels of Kroger's abandoned $25 billion merger with Albertsons, which was blocked by regulators over antitrust concerns. Albertsons has since filed a lawsuit against Kroger, alleging failure to secure regulatory approval for the merger. citeturn0news13

Following the announcement of McMullen's resignation, Kroger's stock experienced a decline of approximately 1.5%. Despite this leadership change, the company has reaYmed its full-year financial guidance, anticipating strong sales and earnings. citeturn0news12

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