Grocery giant Kroger said Monday (March 3) that Chairman and CEO Rodney McMullen resigned from the company after a board investigation of his personal conduct. The company did not specify the personal conduct but said in a press release that it “while unrelated to the business, was inconsistent with Kroger's Policy on Business Ethics.
Kroger (KR) shares are falling more than 1% Monday morning after the grocery chain said that CEO and Chairman Rodney McMullen has resigned after a probe on his personal conduct.
The company said it was made aware of “certain personal conduct” by McMullen on Feb. 21 and immediately obtained independent counsel to launch an investigation.
Evaluate the expected performance of Kroger (KR) for the quarter ended January 2025, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.
Kroger has abruptly replaced its CEO, the grocery chain said on Monday. Rodney McMullen resigned and will be replaced by Ronald Sargent.
Kroger: Looking Stretched Ahead Of The Q4 Results
Kroger announced on Monday that CEO Rodney McMullen has stepped down following a board investigation into his personal conduct. The company said that his personal conduct, “while unrelated to the business, was inconsistent with Kroger's Policy on Business Ethics.
“Mr. McMullen's conduct is not related to the company's financial performance, operations or reporting, and it did not involve any Kroger associates,” the company said.
Chief Executive Officer's Rodney McMullen's resignation follows a board investigation of his personal conduct.
Kroger Co. (NYSE: KR) is rewarding its shareholders once again with a quarterly dividend of $0.32, payable on Saturday, March 1.
Kroger (KR) concluded the recent trading session at $63.93, signifying a +0.2% move from its prior day's close.
Kroger (KR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.