Kroger CEO canceled after the examination of personal behavior: company

• The KROGER grocery chain announced that the chairman and CEO Rodney McMullen has resigned
• The company said that after an investigation by the board, the change showed that McMullen's personal behavior “did not stand with the policy of Kroger in relation to business ethics”.
• Ronald Sargent was immediately effective as an interim CEO

Rodney McMullen, CEO and chairman of the large grocery chain Kroger, has resigned into his personal behavior after an investigation by the company's board.

Kroger announced McMullen's departure in a press release on Monday, March 3. Ronald Sargent is immediately effective. The company also said that Mark Sutton was used as Kroger's senior independent director.

The company said that McMullen's resignation was “after an investigation of his personal behavior of the board, which are not related to the business, but were not related to the policy of Kroger to business ethics”.

People turned to McMullen on Monday.

The company also said that its board was made aware of McMullen's personal behavior on February 21 and commissioned an external independent lawyer for investigating.

“Lord. The behavior of McMullen is not related to the financial performance, operations or reporting of the company and did not include any Kroger employees,” added Krogers press release.

Accordingly The Wall Street JournalMcMullen was in 2014 as a CEO von Kroger and was appointed chairman the following year. In 1978 he joined the company as a part -time officer and climbed through the ranks, added the newspaper.

The news of McMullen's departure comes when Albertsons, a competing grocery company, derived his proposed fusion of 25 billion US dollars with Kroger after a federal judge mixed the transaction, reported CNN. If it had been through, the deal would have been the largest grocery store in American history, reported The New York TimesPresent

After that, Albertsons submitted a lawsuit against Kroger in which he claimed a breach of contract. Kroger described the lawsuit as “groundless” in a press release in December.

“We have made extraordinary efforts to maintain the merger contract during the entire regulatory process, and the facts will make this very clear,” said Kroger.

“We are incredibly proud of the Kroger team how they worked through the merger process with a highest degree of integrity and commitment,” added.

In his press release on March 3, about the change in the CEO, Kroger said that his board had launched a search committee to find the next CEO of the company. In the meantime, Sargent will serve in this role for the time being.

“As an interim CEO, I am striving to work with our proven and experienced management team and committed employees to ensure that Kroger continues to offer our customers an extraordinary value,” said Sargent, who has been a Kroger director for almost 20 years, in a press release.

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“Kroger was a special place throughout my retail career after I had spent Summers in shops in college, and my first ten years after the business school in the company headquarters before recently acting as a leading independent director,” he continued.

Kroger was founded in Cincinnati in 1883 and, according to the company's website, has around 2,800 shops in 35 states.

In an e -e -mail to people, a Kroger spokesman says that the company has no additional comment on McMullen's exit, except what was shared in its press release.