Kroger CEO Rodney McMullen abruptly resigned following an investigation into undisclosed “personal conduct” allegations, the grocery giant announced Monday morning. The company declined to offer details about his alleged conduct, except to say that it was “unrelated to the business” and “inconsistent” with Kroger’s ethics policies. McMullen, 64, was Kroger’s CEO for over a decade and had been at the company since 1978. In a statement, the board of directors said it learned of “certain personal conduct by McMullen” on Feb. 21 and “immediately retained outside independent counsel to conduct an investigation.” Bloomberg News reported the investigation was completed in recent days and that McMullen submitted his resignation Monday. Ronald Sargent, a member of Kroger’s board since 2006, was appointed interim CEO while the company conducts a search for a new executive. The announcement comes less than three months after a $25 billion proposed merger between Kroger and rival grocery chain Albertsons collapsed after a federal judge blocked the deal. Albertsons filed a lawsuit against Kroger for breach of contract, alleging it failed to undertake “any and all actions” to obtain a green light from regulators.
Read it at Bloomberg
