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Rodney McMullen, CEO of Kroger, has resigned after an internal investigation found his personal conduct violated the company’s ethics policy.
Rodney has been with Kroger for nearly five decades. His resignation has now left the grocery brand at a crucial crossroads. The board has appointed Ronald Sargent, who is a board member and former CEO of Staples, as interim leader. Search for a permanent replacement is underway.
The announcement comes at a relatively hard time for Kroger, which recently abandoned a $25 billion merger with Albertsons due to regulatory challenges. Many believe that the leadership change raises concerns about the company’s direction.
However, Kroger has assured stakeholders that daily operations remain unaffected. Following this, a slight dip in stock prices was noted.
An official press release from the brand stated,
"The Kroger Co. (NYSE: KR) today announced that Chairman and Chief Executive Officer Rodney McMullen has resigned from the Company following a Board investigation of his personal conduct that, while unrelated to the business, was inconsistent with Kroger's Policy on Business Ethics."
It also added:
"The Board has appointed Lead Director Ronald "Ron" Sargent to serve as Chairman of the Board of Directors and interim Chief Executive Officer, effective immediately. The Board also announced that Mark Sutton will serve as Kroger's lead independent director, also effective immediately."
Who is Rodney McMullen?
Rodney McMullen’s journey at Kroger began in 1978. He joined the company as a part-time stock clerk in Kentucky. He gradually climbed the corporate ladder, holding key positions such as chief financial officer and chief operating officer before being named CEO in 2014. He later became chairman in 2015.
McMullen played a significant role in expanding Kroger’s digital operations. He played his part in streamlining the brand's supply chain. However, his time at Kroger was not without controversy.
The failure of the Albertsons merger was a significant setback, believe many. Additionally, Kroger’s decision to announce a $7.5 billion stock buyback plan after the failed deal drew skepticism from enthusiasts.
Why did Rodney McMullen resign?
Kroger’s board of directors was alerted to concerns regarding McMullen’s personal conduct on February 21, 2025. In response, an external counsel was hired to investigate the matter.
The probe concluded that Rodney McMullen’s actions were inconsistent with Kroger’s business ethics policy. However, the company clarified that his conduct was unrelated to financial performance, operations, or any other employees. The brand states,
"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. Mr. McMullen's conduct is not related to the Company's financial performance, operations or reporting, and it did not involve any Kroger associates."
However, Kroger has not disclosed specific details regarding the nature of McMullen’s misconduct.
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