Kroger Replaces CEO Rodney McMullen: Private | World Market Information
This text initially appeared on Enterprise Insider.The grocery chain Kroger is changing its CEO after an investigation into his personal conduct, it mentioned Monday.Kroger mentioned in a assertion that it realized about conduct by Rodney McMullen that was “inconsistent with Kroger’s Policy on Business Ethics.””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,” Kroger mentioned.No Kroger associates had been concerned in McMullen’s conduct, Kroger mentioned. It added that the conduct wasn’t associated to the company’s financial efficiency.McMullen has resigned from the CEO position, Kroger mentioned. He’d been Kroger’s CEO since 2014 and have become chair of the company’s board of administrators the next 12 months.The company has appointed Ronald Sargent, a member of its board of administrators who’s a former CEO of Staples, as interim CEO and board chair whereas it searches for a everlasting alternative.Mark Sutton will take over because the company’s lead impartial director, Kroger mentioned.Kroger is the most important grocery store chain within the US by gross sales. The company operates grocery shops underneath a number of names, together with Harris Teeter and Fry’s.The company is anticipated to report its fourth-quarter earnings on Thursday.
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