Kroger CEO Resigns Following Ethics Investigation

Rodney McMullen steps down after nearly five decades at Kroger, citing personal conduct inconsistent with company policies.

Rodney McMullen, Kroger's CEO since 2014, resigned following a board investigation into personal conduct unrelated to the company’s operations or financial performance.
The board launched the investigation on February 21 after being alerted to conduct that violated Kroger's Policy on Business Ethics.
Ronald Sargent, a longtime board member and former Staples CEO, has been appointed interim CEO and chairman while a search for a permanent replacement begins.
McMullen’s departure follows the collapse of a $25 billion merger with Albertsons last year, which led to a lawsuit from Albertsons alleging breach of contract.
Kroger’s shares dipped slightly following the announcement, but the company expects to report strong earnings later this week.