Kroger CEO Rodney McMullen Resigns Amid Ethics Investigation

Rodney McMullen, the CEO of Kroger, resigned on March 3, 2025, following an independent investigation into his personal conduct that was deemed inconsistent with the company's business ethics policy. The investigation began on February 21 and concluded with McMullen forfeiting over $11 million in potential bonuses and unvested equity awards. While Kroger stated that the misconduct was unrelated to the company's financial performance or operations, the sudden nature of the resignation has raised concerns among analysts and investors, leading to a more than 2% drop in Kroger's stock. Ronald Sargent has been appointed as the interim CEO as the company navigates this leadership change amidst ongoing challenges such as the fallout from a failed merger with Albertsons. McMullen had been with Kroger since 1978 and had served as CEO since 2014, overseeing significant expansions and strategic investments. The board is now tasked with finding a permanent replacement while ensuring the company's stability.