· 1d
Kroger, Albertsons CEOs both leaving their roles after failed $25B acquisition
· 12h · on MSN
Kroger to Report Earnings After CEO Resignation, Merger Failure
Albertsons CEO to step down after Kroger merger fails. What he says about grocer’s future
The announcement Monday came the same day that Kroger’s CEO, Rodney McMullen, resigned after an investigation by the Cincinnati grocery company’s board into his “personal conduct.” That undisclosed conduct, “while unrelated to the business, was inconsistent with Kroger’s Policy on Business Ethics,” Kroger said in a news release.
Kroger board member Ron Sargent is taking the helm at the nation’s largest supermarket chain as questions about former CEO Rodney Mullen continue.
13hon MSN
Rodney McMullen, the now-former CEO of supermarket giant Kroger who stepped down following an investigation into his personal conduct, had to forfeit $11.2 million in unvested stock and options, according to government filings.
In December, federal and state courts blocked the attempted merger between two of Colorado’s grocery store giants: Albertsons (Safeway) and Kroger (King Soopers, City Market). The merger was challenged by the Federal Trade Commission
Ex-Kroger CEO Rodney McMullen left over $11 million on the table when he left the grocer, according to the company's SEC filings.
Albertsons said on Monday its CEO Vivek Sankaran will retire and insider Susan Morris would assume the top role, as the supermarket chain shifts focus to build its digital sales and retail media business.
Some results have been hidden because they may be inaccessible to you
Show inaccessible results
Feedback