Leaving Kroger: who is Rodney McMullen and who will replace him?
4 march 2025 в 05:37
The 65-year-old started his career at the company in 1978, working as a part-time stocker and packer at a store in Lexington, Kentucky. Over the years, he held various managerial positions before becoming CEO in 2014 and chairman in 2015.
With his long tenure at the company and news of his departure, learn more about the current net worth of McMillan and additional details below.
According to Market Realist data for 2022, McMillan’s net worth is estimated at no less than $ 22.7 million, with over 6000 shares of Kroger stock worth over $ 1.6 million.
The 2024 IPS Executive Excess report showed that McMillan’s total compensation from Kroger in 2023 was $ 15.7 million.
After an investigation by the Kroger board of directors, no additional details were provided about the investigation results in the announcement, except for a statement that the behavior was not related to the company’s business, «did not comply with Kroger’s Business Ethics Policy», - and did not involve Kroger employees.
Kroger also stated that the board of directors first learned of the personal behavior 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 McMillan.
McMillan has been temporarily replaced by Ronald Sargent as acting CEO of Kroger.
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 the Kroger board of directors as an independent director in 2006 and became chairman in 2017.
«As acting CEO, I am committed to working closely with our proven and experienced leadership team and dedicated employees to ensure Kroger continues to deliver exceptional value to our customers», - Sargent said in a press release. «Kroger has been a special place throughout my entire retail career after spending summers in college working in stores, as well as my first ten years after business school in the corporate office before recently becoming chairman. My decades here have given me a full understanding of what makes Kroger unique, and I look forward to even closer collaboration with this talented team. I plan to be a steady but active hand in executing our strategy»
With his long tenure at the company and news of his departure, learn more about the current net worth of McMillan and additional details below.
According to Market Realist data for 2022, McMillan’s net worth is estimated at no less than $ 22.7 million, with over 6000 shares of Kroger stock worth over $ 1.6 million.
The 2024 IPS Executive Excess report showed that McMillan’s total compensation from Kroger in 2023 was $ 15.7 million.
After an investigation by the Kroger board of directors, no additional details were provided about the investigation results in the announcement, except for a statement that the behavior was not related to the company’s business, «did not comply with Kroger’s Business Ethics Policy», - and did not involve Kroger employees.
Kroger also stated that the board of directors first learned of the personal behavior 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 McMillan.
McMillan has been temporarily replaced by Ronald Sargent as acting CEO of Kroger.
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 the Kroger board of directors as an independent director in 2006 and became chairman in 2017.
«As acting CEO, I am committed to working closely with our proven and experienced leadership team and dedicated employees to ensure Kroger continues to deliver exceptional value to our customers», - Sargent said in a press release. «Kroger has been a special place throughout my entire retail career after spending summers in college working in stores, as well as my first ten years after business school in the corporate office before recently becoming chairman. My decades here have given me a full understanding of what makes Kroger unique, and I look forward to even closer collaboration with this talented team. I plan to be a steady but active hand in executing our strategy»
© Artemenko Olga
