Rodney McMullen, the chairman and CEO of Kroger, has resigned after the grocery chain’s board led an internal investigation into his “personal conduct,” NPR reported.
“The Kroger Co. (NYSE: KR) today announced that Chairman and Chief Executive Officer Rodney McMullen has resigned from the Company following a Board investigation of his personal conduct that, while unrelated to the business, was inconsistent with Kroger's Policy on Business Ethics,” Kroger announced on Monday. The company added that the board was “made aware of certain personal conduct” by McMullen on Feb. 21 and “immediately retained outside independent counsel to conduct an investigation.” McMullen’s conduct “is not related to the Company's financial performance, operations or reporting, and it did not involve any Kroger associates.”
Board member Ronald Sargent will serve as Chairman of the Board of Directors and interim Chief Executive Officer, effective immediately. The board also announced that Mark Sutton will serve as Kroger's lead independent director, effective immediately.
McMullen started working for Kroger in 1978 as a part-time stock clerk in Lexington, Kentucky, according to the company’s official website. Specifically, McMullen worked at the Eastland Shopping Center Kroger while attending the University of Kentucky. He eventually became chief financial officer in 1995 and chief operating officer in 2009. McMullen was officially Kroger’s CEO in 2014 and chairman in 2015.
