Kroger Announces Resignation of CEO Rodney McMullen

Core Points - Kroger's Chairman and CEO Rodney McMullen has resigned following a Board investigation into his personal conduct, which was inconsistent with the company's ethics policy [1][2] - Ronald Sargent has been appointed as the new Chairman of the Board and interim CEO, while Mark Sutton will serve as the lead independent director [1][3][8] - The Board has formed a Search Committee to find Kroger's next CEO, with Sargent committed to maintaining the company's strategic direction during this transition [3][4] Financial Performance Expectations - Kroger anticipates that full-year Identical Sales without fuel will be at the high end of its guidance range [5][8] - The company expects full-year Adjusted Earnings Per Share to be slightly above the high end of its guidance range [5][8] - Kroger will report its fourth quarter and full-year 2024 results, along with full-year 2025 guidance, on March 6, 2025 [5][8] Leadership Background - Ronald Sargent has been a Kroger director since 2006 and has extensive experience in retail, including leadership roles at Staples, Inc. [4] - Sargent's previous roles at Kroger include various positions across stores, sales, marketing, manufacturing, and strategy [4] - Mark Sutton, the newly appointed lead independent director, emphasized Sargent's integral role in developing Kroger's strategy [5]