Kroger CEO Resigns Amid Personal Conduct Inquiry; Ronald Sargent Takes Interim Helm

Kroger Co. announced on Monday the resignation of its CEO, Rodney McMullen, following an investigation into his personal conduct.

The company clarified that while McMullen’s actions weren’t related to Kroger’s business operations, they nonetheless conflicted with the company’s Business Ethics Policy. McMullen’s departure comes just months after the termination of a planned $25 billion merger with Albertsons, a deal he had been spearheading. Following the collapse, Albertsons instigated legal action against Kroger, accusing them of breaking the contract.

In a statement, Kroger noted that, “On February 21, the Board was informed of certain personal conduct by Mr. McMullen. An independent external counsel was immediately appointed to conduct an investigation, overseen by a special Board committee. Mr. McMullen’s actions were not linked to the company’s financial performance, operations, or reporting, and did not involve any Kroger staff,” the company explained in its announcement.

Following McMullen’s resignation, Ronald Sargent has been designated as the interim CEO and chairman of the board.

“As interim CEO, I am dedicated to collaborating with our skilled and experienced management team and committed associates to guarantee that Kroger continues to deliver outstanding value to our customers,” Sargent expressed in his statement.

Having been a Kroger director since 2006 and the lead director since 2017, Sargent’s roots with the company run deep. His initial decade at Kroger saw him working in various positions within stores, sales, marketing, manufacturing, and strategy. A seasoned retail executive with 35 years in the industry, Sargent has also served as the chairman and CEO of Staples, Inc., according to Kroger.

Had it gone through, the Kroger-Albertsons merger would have stood as the largest combination in the grocery industry’s history.