Kroger Co has announced the resignation of long-term chief executive and chair Rodney McMullen following an investigation into his personal conduct.
A probe found McCullen’s personal conduct was inconsistent with Kroger’s “policy on business ethics,” the retailer said on Monday.
“McMullen's conduct is not related to the company's financial performance, operations or reporting, and it did not involve any Kroger associates,” a statement read.
McMullen had headed the company since 2014, with Kroger highlighting “certain” personal conduct flagged on February 21 that sparked the investigation.
Ronald Sargent, a director at Kroger since 2006, would take the helm on an interim basis until a successor was found, the company added.
Shares fell 1.8% to $63.64 on Monday.