Rodney McMullen left his position as head of Kroger after an investigation by the Council
4 march 2025 в 05:13
McMullen is the long-time CEO of Kroger, one of the largest supermarket chains in the United States. He began his career at the company in 1978 as a part-time clerk in inventory control and a packer at a store in Lexington, Kentucky. Over the years, he held various managerial positions before becoming CEO in 2014 and chairman in 2015.
After an investigation by Kroger’s board of directors, it was announced in a press release that «Chairman and CEO Rodney McMullen has left the company following an investigation by the board of directors into his personal conduct».
The company did not provide additional details about the results of the board’s investigation in the announcement, other than stating that the behavior was unrelated to the company’s business, «did not comply with Kroger’s Business Ethics Policy», - and did not involve any Kroger employees.
Kroger stated that the board first learned of the personal conduct issue on February 21 and immediately engaged external lawyers to conduct an independent investigation. A search committee was formed to find a permanent replacement for McMullen.
Estimates show that McMullen has a net worth of at least $ 22.7 million, with over 6,000 shares of Kroger stock worth more than $ 1.6 million, according to the 2022 Market Realist report.
The 2024 IPS Executive Excess report showed that McMullen’s total compensation from Kroger in 2023 was $ 15.7 million.
After McMullen’s departure, Kroger appointed Ronald Sargent as interim CEO. Sargent has extensive experience in various departments at Kroger, including stores, sales, marketing, production, and strategy. He also spent nearly 27 years at Staples, serving as CEO from 2002 to 2016. Sargent joined Kroger’s board of directors as an independent director in 2006 and became lead director in 2017.
«As interim CEO, I am committed to working closely with our proven and experienced management team and dedicated employees to ensure Kroger continues to deliver exceptional value for our customers», - Sargent said in a press release on Monday, March 3
After an investigation by Kroger’s board of directors, it was announced in a press release that «Chairman and CEO Rodney McMullen has left the company following an investigation by the board of directors into his personal conduct».
The company did not provide additional details about the results of the board’s investigation in the announcement, other than stating that the behavior was unrelated to the company’s business, «did not comply with Kroger’s Business Ethics Policy», - and did not involve any Kroger employees.
Kroger stated that the board first learned of the personal conduct issue on February 21 and immediately engaged external lawyers to conduct an independent investigation. A search committee was formed to find a permanent replacement for McMullen.
Estimates show that McMullen has a net worth of at least $ 22.7 million, with over 6,000 shares of Kroger stock worth more than $ 1.6 million, according to the 2022 Market Realist report.
The 2024 IPS Executive Excess report showed that McMullen’s total compensation from Kroger in 2023 was $ 15.7 million.
After McMullen’s departure, Kroger appointed Ronald Sargent as interim CEO. Sargent has extensive experience in various departments at Kroger, including stores, sales, marketing, production, and strategy. He also spent nearly 27 years at Staples, serving as CEO from 2002 to 2016. Sargent joined Kroger’s board of directors as an independent director in 2006 and became lead director in 2017.
«As interim CEO, I am committed to working closely with our proven and experienced management team and dedicated employees to ensure Kroger continues to deliver exceptional value for our customers», - Sargent said in a press release on Monday, March 3
© Smirnova Olga
