Kroger CEO Rodney McMullen is stepping down following an investigation into his personal conduct, the grocery chain announced on Monday. McMullen, who served as both chairman and CEO, was found to have acted in a manner inconsistent with Kroger’s Policy on Business Ethics, according to a company statement. However, the company clarified that his actions were unrelated to business operations or financial matters and did not involve any Kroger associates.
The decision follows an independent counsel’s investigation into certain behaviors that the company’s board became aware of on February 21. Ron Sargent, Kroger’s lead director, will take over as the interim chairman of the board and CEO immediately.
Kroger’s board has initiated a search committee to find a permanent replacement for McMullen. In a statement, Sargent expressed his commitment to working with Kroger’s management team to ensure continued value for customers. He highlighted his long history with the company, noting his appreciation for Kroger’s unique qualities and his excitement to collaborate closely with the team.
— news from CBS News