U.S. grocery chain Kroger has announced that its chairman and CEO, Rodney McMullen, resigned from the company on 3 March.
On 21 February, Kroger’s board of directors was made aware of “certain personal conduct” carried out by McMullen, so it retained outside independent counsel to conduct an investigation overseen by a special committee, Kroger said in a press release about the news.
The investigation found that McMullen’s personal conduct, “while unrelated to the business, was inconsistent with Kroger's Policy on Business Ethics.”
"Mr. McMullen's conduct is not related to the company's financial performance, operations, or reporting, and it did not involve any Kroger associates,” Kroger said.
As a result of the investigation, Kroger’s board has appointed Ronald Sargent, who previously served as lead director of the firm, as chairman of the board of directors and interim CEO, effective immediately. Mark Sutton will now serve as Kroger's lead director.
"As interim CEO, I am committed to working alongside our proven and experienced management team and dedicated associates to ensure Kroger continues providing exceptional value for our customers," Sargent said...
