Kroger Chairman and CEO Rodney McMullen has resigned after an internal investigation into his personal conduct.
Kroger, the nation’s largest grocery chain, said Monday that the investigation into McMullen’s personal conduct was unrelated to the business, but was found to be inconsistent with its business ethics policy.
Board member Ronald Sargent will serve as chairman and interim CEO, effective immediately.
I’m so busy tryna keep the floor swept, and me fed, etc. Where do these people find all this ‘crimin’ time?
They’re the parasite class, we do the work so they can enjoy life. The wealth just makes them lose their mind
Weird…usually no one cares so long as the stock price goes up. Or he’s fucking children…and even then these companies take a “wait and see” attitude.
Maybe it was a lot of children!
Not a hint at what he did.
They’re not going to officially announce it. We’ll have to see if someone talks about it in interview or it gets leaked.
Board member Ronald Sargent will serve as chairman and interim CEO, effective immediately. … Cincinnati-based Kroger said its board was made aware of the situation on Feb. 21 and immediately hired an outside independent counsel to conduct an investigation, overseen by a special board committee.
This guy did something baaaaad. We’re going to find out what it is when he’s indicted.
“Dead girl or live boy” was the 20th century go to answer. I haven’t heard an updated version.
Its gotta be money or sex.
- Board learned about “the situation” on Feb 21
- Board immediately hired a third party to investigate
- Ten days later, McMullen resigns
“The situation” was serious enough that the board decided to spend money on a third party investigation. This means that they knew it was very bad, and they would not be able to cover it up.
Ten days in, McMullen resigns. He knows it’s very bad, and will not be able to cover it up. Of note, McMullen was also the board chairman.
The company statement makes it very clear that “the situation” is not at all related to the company or any of its employees. Other reporting says “The company said McMullen would not be eligible to receive a bonus for 2024.”
Money or sex? Sure, but it’s super illegal money or sex.
I have nothing to base this on, but I wonder if it is insider trading on the attempted Albertsons merger. Did he have stock that he dumped before the news broke at some specific time?
The conduct is not related to financial performance, operations or reporting, and it did not involve any Kroger associates, the company said.
Maybe he played some fuck around with Albertson’s stock. If that was the case, Kroger’s statement above would remain true.
probably both
Sex with money? Asking for a paper cut buddy
Loose change.
This is the important bit of that article:
Like its competitors, Kroger has focused on diversifying beyond the core retail business into areas that have faster growth, such as advertising and data analytics. It also teamed up with UK-based Ocado Group to build warehouses for online orders, though that deal has drawn skepticism.
