Kroger CEO Resigned: What Conduct Investigation Revealed?

Big news from Kroger. The CEO is gone. Rodney McMullen is out. And it sounds like it wasn’t exactly planned.

What happened? Here’s the scoop:

A Quick Investigation

Kroger says they found out about some. .. let’s call it “questionable” conduct. Conduct that didn’t align with their ethics policy. Uh oh.

The board jumped into action. They hired lawyers to investigate. Fast. This all started on February 21st.

What We Know (and Don’t Know)

Here’s what Kroger is telling us:

• No Kroger employees were involved.
• It wasn’t about the company’s money or performance.

What WAS it? They’re not saying. But it was enough for McMullen to resign. He’d been CEO since 2014.

New Leadership, For Now

Ronald Sargent is stepping in. He’s a board member and used to be the CEO of Staples. He’s the interim CEO and board chair while they find someone permanent.

Mark Sutton will be the lead independent director.

Why This Matters

Kroger is huge. The biggest supermarket chain in the US. They own Harris Teeter and Fry’s, too. This is a big shakeup.

They’re supposed to announce their earnings soon. Keep an eye out.

The Big Question

What exactly did McMullen do? That’s the question everyone’s asking. We’ll keep you updated as we learn more.