Kroger CEO abruptly resigns: What we know

The CEO of Cincinnati-based Kroger has resigned related to a company investigation into his personal conduct.

According to the company, Kroger Co. announced that Chairman and Chief Executive Officer Rodney McMullen, 65, has resigned “following a board investigation of his personal conduct.”

The company said that while his conduct is unrelated to the business itself, it was inconsistent with Kroger’s policy on business ethics. Kroger did not offer specifics of its investigation into McMullen.

In a statement, the company said, “On February 21, the Board was made aware of certain personal conduct by Mr. McMullen and immediately retained outside independent counsel to conduct an investigation, which was overseen by a special Board committee. Mr. McMullen’s conduct is not related to the Company’s financial performance, operations or reporting, and it did not involve any Kroger associates.”

McMullen’s departure comes months after Kroger’s failed two-year effort to merge with Albertsons, another supermarket giant. Federal and state courts blocked the merger in December, prompting Albertsons to sue Kroger immediately after.

Kroger operates over 2,700 stores under names that also include Ralphs, Fry’s and King Soopers.

Ronald Sargent has been appointed Chairman of the Board of Directors and interim CEO, effective immediately.

Kroger said Sargent has been a director since 2006 and has served as the lead director of Kroger since 2017. He spent the first ten years of his professional career at Kroger, working in several roles across stores, sales, marketing, manufacturing and strategy.